Tag Archives: Best Buy

Warning: huge dip in Xmas US PC/gadget sales

New research warns of a massive breakdown in consumer spending in the next 90-days, hinting Apple’s rumoured moves to cut production of iPhones and laptops and Dell’s decision to doom its return to the digital media device market may not be marks of lost market share, but simple common sense.

New research from ChangeWave, the ‘‘Consumer Spending Report’ and ‘Consumer PC Report‘, warns of the breakdown in US consumer spending and of a “dismal” 90-Day outlook in all consumer spending categories.

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Best Buy acquired loss-making Napster

Napster has secured yet another lease of life, with surprise news emeging now that giant US retailer, Best Buy, has agreed a definitive merger agreement to acquire Napster for a cash price of $2.65 per share – $121 million.

The transaction has received required board approval at Napster and is expected to close during the fourth quarter. The proposed acquisition includes Napster’s approx. 700 thousand digital entertainment subscribers, its Web-based customer service platform, and innovative mobile capabilities.

In conjunction with the definitive merger agreement, Napster CEO Chris Gorog and key members of senior management of Napster have entered into employment agreements, effective at closing, pursuant to which they have agreed to continue as the Napster leadership post-acquisition.
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