Napster Co-Creator buying WMG?!

[mastermetallica]

Sean Parker, the CO-Creator of Napster apparently is talking about buying Warner Music Group!

Parker is supposedly talking about making a $2.5 Billion Dollar investment to buy out WMG (from crawdaddy.com).

The really ironic thing, is this is Metallica's record label! I'm not sure how many of you know anything about Metallica, but it was their drummer, Lars Ulrich, who filed a lawsuit against Napster in 2000 because it was distributing their music for free!

So Lars Ulrich started the musicians revolt and forced Napster to file bankruptcy (until the name was bought by BestBuy), and now the guy that lost all his stuff is buying Metallica's record label!

Although, WMG is their OLD record label. As of 2008 when Metallica released their latest album their contract with WMG expired. So any new music will be their own, but Sean Parker will own the rights to everything else.

Anyone else find this really ironic :tongue:? Also how do you think Sean Parker would do as the owner of WMG?

Also don't base your opinions off of The Social Network's representation of Sean Parker, after all, he did create Napster at the age of 19 :wink:

 

[denzil]

Crazy story. All I can say is: what a man

He will probably rock it no problem.

 

[descalzo]

He is just part of an investment group who is looking into buying WMG. One view is that it is just a business decision because he views WMG as being undervalued. Another is that his links to Spotify (music streaming) might be behind his interest. Guess when you are worth $1.6B on paper, you can have hobbies.

 

[mastermetallica]

He is just part of an investment group who is looking into buying WMG.

Yes, I didn't really clarify that very well, it's not him alone. He's just the only one that makes it interesting because of his connection with Napster and now maybe Lars Ulrich of Metallica :biggrin: