Best Buy to acquire Napster for $54 million
Best Buy Co. said Monday that it has signed a deal to acquire digital music provider Napster Inc. for $54 million, giving the retailer a means of taking on Wal-Mart in the increasingly important online-distribution channel.
Best Buy said its annual profit would be smaller than expected, hurt by a slowing economy as shoppers held back on TVs, digital music players and cameras.