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A bankruptcy court in Delaware on Tuesday denied Bertelsmann AG's bid for Redwood City, Calif.-based Napster, ruling that Napster failed to prove that it completed the deal "in good faith." Recording companies and music publishers objected to the acquisition of the music-swapping Web site, saying it didn't meet the standards of a fair deal. Napster CEO Konrad Hilbers said the company is likely to file for Chapter 7 bankruptcy.
September 05, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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