By Kate Hanaghan, 15 May 2002 08:00
NEWS Napster's CEO has quit the company in the face of a possible bankruptcy filing. The file-swapping company has been all but non-operational since last year when the Federal Court put a stop to its service that allowed users to swap copy-righted musical material. An email from Konrad Hilbers, the out-going CEO, revealed he made a final attempt to sell the company. However, the deal was rejected by management at parent company Bertelsmann. Sources cited on US newswires suggest Shaun Fanning, the teenage creator of the company, has also resigned.
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