Telefonica Buys Stake in Rhapsody/Napster

It was reported this week that Spanish telecom giant Telefonica has acquired a significant stake in streaming platform Rhapsody International. Telefonica will reportedly begin offering customers Napster on their phones starting November 1st. This will hopefully drive brand exposure and audience growth for Rhapsody, a company which has recently struggled with heavy layoffs and a major leadership change. Read more about Telefonica and Rhapsody/Napster here.