London listed MelodyVR who specialise in virtual live music events have announced they are to acquire US group Rhapsody International, trading as Napster and will create a “one of a kind” combined entertainment giant.
Anthony Matchett, chief executive of MelodyVR said, “For music fans today, live and recorded music are intrinsically linked.
“We are as keen to see our favourite artists perform live as we are to listen to their albums.
“Our purchase of Napster, one of the music industry’s original disruptors, is born out of our wish to deliver the world’s foremost music experience, available seamlessly across audio and visual media and in turn presenting a truly next generation music service.”
Napster boss Bill Patrizio added, “This is a tremendous outcome for two organisations with complementary platforms and loyal audiences, and we could not be more excited to be moving forward as one company.”