By Deborah Schofield, 12 February 2001 09:20
NEWS Legacy, which hopes to turn the attraction into a high-tech business park, is struggling to find partners wishing to do business on its terms. It has until Wednesday to persuade government officials of its suitability as a purchaser, and must submit further details of its progress today. Government ministers meet on Thursday to decide whether to vote for Legacy or Ron (re-open nominations). Grosvenor Estates, a group led by the Duke of Westminster, had looked to be a weighty ally, but, unsatisfied with a minority stake, agreed its backing only with over a 50 per cent share. Legacy is apparently unwilling to cede control of the project, instead turning in its eleventh hour to other potential backers, including 'an astute financier of property', Quintain. The Independent reports on the massive popularity of the Napster site over the weekend, as hundreds of thousands logged in to top up their downloads ahead of today's ruling by a San Francisco appeals court. The court has been considering its verdict since July 2000, when it quashed an injunction that temporarily halted Napster's operations following a case brought by music industry giants late in 1999. The free site is eating away 'millions of dollars' in copyright fees'. Today's ruling could force Napster to end its file-sharing activities or introduce charges. Either way, there's always the US Supreme Court, and Napster's October 'strategic alliance' with Bertelsmann already heralded the end of free music as we have all-to-briefly known it. News from, amongst others, the Guardian is that Orange, too, faces a time of reckoning with its partial flotation on the Paris and London stock exchanges this week. The final price tag is likely to be at the bottom end of the 606p to 705p range. Spread-betting agency predicts Orange shares will end the day around the 680p mark, thereby giving investors a 'healthy, if unspectacular' return. Only time, as they say, will tell and silicon.com will bring you more on these stories as they happen.
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