Napster.com, long associated with the trading of digital music files, may soon have a new connotation.
An adult entertainment media company that claims to own the largest library of adult content Thursday said it has bid to purchase the Napster trademark and Napster.com, the domain name of the defunct file-swapping service Napster Inc. Private Media Group Inc., a public company based in Barcelona, Spain, has offered one million shares of common stock in exchange for the assets, it said in a statement.
Shares of Private Media Group (PRVT) trade on the Nasdaq. At the close of market Thursday its shares fell US$0.11 to end the day at $2.41.
The company said it hopes to create a peer-to-peer trading system that would facilitate the trading of adult content, with a free and a fee-based subscription offering. The company said it aims to develop a legal file-swapping community for adults to share content provided by private and its partner companies.
Napster filed for Chapter 11 bankruptcy protection in June. Early this month Judge Peter Walsh of the U.S. Bankruptcy Court for the District of Delaware, in Wilmington, Delaware, blocked a proposed acquisition of Napster's assets by German media conglomerate Bertelsmann AG.