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Roxio close to purchasing Pressplay music service

Reuters reports that Roxio, makers of the popular Toast CD burning software, is close to finalizing a deal to buy the online music service Pressplay from its owners, Universal Music Group and Sony Music Entertainment. “The deal, which would bring one of the two online music services backed by the major record labels under the control of the company that bought what remained of Napster at bankruptcy auction last year, could be announced as early as Monday, the sources said… The initial value of Roxio’s offer for Pressplay was about US$30 million, in cash and stock, a source familiar with the situation said.”

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