Porn Corporation Makes Napster Bid

[TMC]

http://story.news.yahoo.com/news?tmp...apster_offer_3

By RON HARRIS, Associated Press Writer

SAN FRANCISCO (AP) - One of the Internet's leading purveyors of pornography
has offered to purchase the Napster ( news - web sites) trademark and Web
site address for nearly $3 million in hopes of cashing in on the bankrupt
song-swap company's notorious reputation.

Barcelona, Spain-based Private Media Group Inc.
offered to snap up Napster's most valuable remaining
asset — its unique brand identity — for 1 million
shares of Private's common stock, the bidding
company announced in a release issued last week.

The company's chief executive, Charles Prast, said
his company is interested in using the Napster
trademark merely to place a familiar brand name on a
peer-to-peer network for his pornography seeking
customers.

Not content to remain mired in the print pornography world, Private has
branched out into the Internet and even offers adult content for mobile phones
and PDAs like Palm and Pocket PC devices.

Earlier this month, a Delaware bankruptcy judge blocked the sale of Napster's
assets to its chief investor, Bertelsmann AG. The former song-swapping giant
prepared to convert its Chapter 11 bankruptcy reorganization filing into a
Chapter 7 liquidation proceeding.

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