
$2.4m gamble - it's got to be worth a (money) shot...
Published: 13 September 2002 10:30 GMT
Porn peddler Private Media Group has made an offer to acquire the assets of defunct file-sharing site Napster.
The Spain-based pornographer has offered one million shares of Private Media common stock, valued at about $2.4 million for the Napster trademark and Napster.com internet address.
Private Media shares closed down 11 cents at $2.41 on the Nasdaq on Thursday.
The company plans to use the Napster trademark to front a facility enabling adults worldwide to freely swap pornographic files.
Private Media Chief Executive Charles Prast said in the statement that copyright infringement is a major issue in the online adult entertainment industry as well as for the music and movie industry.
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