Napster gets a new lease on life....

NEW YORK (Top40 Charts) - Napster gets a new lease on life as Bertlesmann AG has agreed to contribute $8 million toward the payment of Napster's creditors, it was announced late Friday (May 17).

The move helped to bring back Napster founder Shawn Fanning and CEO Konrad Hilbers, who both resigned last week when the Board of Directors rejected Bertlesmann's initial offer.
Bertlesmann entered into an alliance with Napster in 2000 and has reportedly already put approximately $85 million into the file-swapping company, though that figure is not confirmed by the company.