] Software maker Roxio announced Monday it has acquired ] online music service pressplay for about $40 million, in ] preparation for the relaunch of a new service under the ] Napster brand name. ] ] Santa Clara-based Roxio bought pressplay for $12.5 ] million in cash and approximately 3.9 million shares of ] Roxio common stock. Pressplay, based in Los Angeles, is ] the joint venture of Universal Music Group and Sony Music ] Entertainment, record companies that were seeking a legal ] alternative to Napster. ] ] Roxio bought the Napster brand on the cheap after the ] company dissolved, and appears ready to relaunch the ] brand as an online music store. ] ] "With our acquisition of Napster we obtained the most ] powerful brand in the online music space. Now, with our ] acquisition of pressplay, we have the most complete and ] scaleable legal technology infrastructure to use as a ] platform to relaunch Napster," said Roxio's chairman and ] CEO, Chris Gorog. Napster to relaunch |