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Lord_of_the_Dense

Roxio to become Napster

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Roxio said Monday that it is selling its software division to Sonic Solutions for $80 million in cash and stock so it can focus exclusively on its Napster online music business.

The Santa Clara company will turn over its home media software, including Easy Media Creator and Toast, to Novato-based Sonic Solutions for $70 million in cash and Sonic stock valued at $10 million. Roxio will change its name to Napster once the deal closes.

Roxio Chairman and Chief Executive Chris Gorog said the transaction would give the company more than $100 million in cash to fuel Napster's growth as it expands the music service to more college campuses this fall and enters other markets.

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