Remember When Metallica Kicked Us Off?
Reported by erun
In a whirlwind of debauchery, Napster, the music file swapping application that just months ago looked set to bring the entire music industry to its knees, is close to meltdown. The company founder Shawn Fanning and other top executives are reported to have resigned amongst bitter internecine feuding and the company has told employees it was insolvent after a deal with global media conglomerate Bertelsmann collapsed. The LA Times reports that without a last minute rescue deal, Napster is expected to seek bankruptcy protection within days. To read the full story of one of first ideas that scared the RIAA, click here.