Best Buy Approved to Buy Napster
Richfield, Minn. Best Buy has been given antitrust approval to buy digital-music service Napster, according to a Reuters report.
Napster and Best Buy intend to compete against Apple's dominant iTunes, which has more than 70% of the market.
The Federal Trade Commission announced the deal's approval in a listing that the agency puts out several times a week.
Best Buy offered $2.65 per Napster share, valuing the deal at $121 million when it was announced in mid-September.