Napster Co-Founder To Bid For Metallica's Record Label

source the sun
Oh the irony! Do you recall a lawsuit about 10 years or so ago involving a new website and a well known band? Well, the parties may cross paths again.
When the heavy metal rock band Metallica discovered that their yet to be released single was getting radio play they thought something was fishy. They traced the file sources and found a demo of the song was being shared on a new peer- to peer file sharing site called Napster.
They then sued Napster, claiming they violated three areas of the law; copy right infringement, unlawful use of a digital audio interface device and the Racketeer Influenced and Corrupt Organizations Act.
The two reached a settlement and as part of it Napster agreed to block users who shared works by musicians who wished not to have their music shared.
In a wild twist of fate, Napster’s co- founder, Sean Parker is involved with a group of venture capitalists interested in purchasing Warner Music Group, Metallica’s record label.
Even if Metallica opted to resign from Warner Music Group, their entire back catalog, including the disputed song I Disappear would be owned by Parker and his buddies.
Parker is currently invested in and an advisor to a European streaming music service called, Spotify. That relationship may be what sparked his interest in Warner Music Group.
Spotify has a million paying subscribers and 7 million active users in Europe. It has not managed to get a foothold in the states as they lack secured agreements with Universal or Warner.
Of course, if Parker controlled Warner he could easily secure the terms Spotify was seeking.
Source: http://blog.starcam.com/post/Napster-Co-Founder-To-Bid-For-Metalicas-Record-Label.aspx