Napster Inc (NAPS)

[acesteele]

Napster launches MP3 formatted downloads:

"Yesterday Napster launched the world's largest MP3 store, substantially expanding our available marketplace as tracks purchased at Napster are now compatible with virtually any MP3 player or music phone in the world including the popular iPod and iPhone. We believe Napster's music offerings are now the most comprehensive and easy to use in the industry, providing music fans with the option to enjoy unlimited streaming, portable subscription, a broad array of mobile offerings and now the premiere MP3 store on the web."

Net revenue for the fourth quarter of fiscal 2008 was $30.8 million, up 6 percent from $29.1 million in the prior year quarter


NICE! And a very smart move. Now every media player out there can purchase tracks from Napster, including iPod users, who were previously forced to use the iToonsMusicStore. Let the floodgates open!