Pressplay to Become “Napster” – No I’m Not Kidding

Roxio is close to buying Pressplay:

Roxio Inc., a maker of CD-burning software, is close to a deal to buy music subscription service Pressplay for about $30 million in cash and stock, the Wall Street Journal said, citing people familiar with the matter.

Pressplay, a joint venture between Sony Corp.’s 6758.T Sony Music Entertainment and Vivendi Universal’s V.N Universal Music Group, will be acquired as part of a plan under which Roxio would launch a music service under the name of the defunct file-swapping network Napster, according to people with knowledge of the matter, the Journal said.

The deal, which is not yet final, would result in Universal and Sony holding an unspecified stake in Roxio, said the Journal. [Reuters]

So a company that sells CD-burning software is going to own a music service called “Napster”? And Sony and Universal will be investors? Gee, no conflict of interest there.