Porn site bids for Napster

NEWS Porn peddler Private Media Group has made an offer to acquire the assets of defunct file-sharing site Napster. The Spain-based pornographer has offered one million shares of Private Media common stock, valued at about $2.4 million for the Napster trademark and Napster.com internet address. Private Media shares closed down 11 cents at $2.41 on the Nasdaq on Thursday. The company plans to use the Napster trademark to front a facility enabling adults worldwide to freely swap pornographic files. Private Media Chief Executive Charles Prast said in the statement that copyright infringement is a major issue in the online adult entertainment industry as well as for the music and movie industry.