Bertlesmann bids £21m for Napster

NEWS German media behemoth Bertelsmann has tabled a £21m offer to buy up Napster. Bertelsmann has already invested around £59m in the controversial music file swapping outfit, but is now keen to take total control, according to German newspaper Die Welt. Thomas Middlehoff, the chief executive of Bertelsmann, is quoted as saying: "Our solution now is to completely take over Napster. We want to buy out the original shareholders. We have made the company an offer because we believe that our strategy is the right one for the future of the company." However, a dispute between venture capitalist firm Hummer Winblad Venture Partners and John Fanning, uncle of Napster founder Shawn Fanning, is thought to be holding up the deal.