Napster loses its final battle against the RIAA, as music industry lawyers convince a judge to block the file-swapping company's US$9 million sale to Bertelsmann.
Napster, the struggling online music company, has filed for bankruptcy protection.
Napster CEO Konrad Hilbers and Shawn Fanning, the service's creator, will remain with the company after resigning earlier in the week. Napster's going price: US$8 million.
Napster chief executive Konrad Hilbers is stepping down, capping months of unsuccessful negotiations to sell the file-swapping company and settle lawsuits hanging over its business.
Song-swapping company Napster says it is delaying the launch of its subscription service yet again, after running into serious snags in its settlement talks with the big record labels.
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