Best Buy Completes Offering Period for Napster Shares

Minneapolis Best Buy Co. has concluded the subsequent offering period of the cash tender offer by its wholly owned subsidiary, Puma Cat Acquisition Corp., to purchase all outstanding shares of common stock of Napster, Inc.

The subsequent offering period followed Best Buy’s initial tender offer, in which Best Buy acquired approximately 35.5 million Napster shares, or 75.3% of all outstanding Napster shares, and which expired on Oct. 24, 2008.

As a result of the tender offer, Best Buy beneficially owns an aggregate of approximately 40.6 million Napster shares (including approximately 1.1 million shares previously owned by Best Buy), representing approximately 85.9% of Napster’s outstanding shares.

The aggregate purchase price for all shares tendered pursuant to the tender offer (including the subsequent offering period) is $104.5 million.