EmptyNapster narrows loss
Digital music firm Napster halved its fiscal fourth-quarter loss from $8.5 million to $4.3 million as revenue rose 6% to $30.8 million. The firm added about 17,000 paid subscribers to end March with 760,000. For the current fiscal first quarter, Napster projected revenue of $30 million-$31 million, below analysts' average estimate of $31.6 million.
Baseball hits XM
XM Satellite Radio said in a regulatory filing Wednesday that a multiyear content deal with Major League Baseball is putting strains on its liquidity. The deal requires XM to maintain $120 million in escrow or other forms of credit support for the benefit of MLB. So far, XM did this via a surety bond that expires June 30, and XM recently used current cash and borrowings for a new escrow setup.
EA is Hands-On
Electronic Arts has agreed to buy Hands-On Mobile Korea, a leading Korean mobile developer and publisher, as part of EA's Asia development and growth plans.
DisH NOTE OFFER
A unit of satellite TV provider Dish Network has increased an offering of senior notes from $500 million to $750 million. The sale of the notes, which are due in 2015, is set to be completed by Tuesday.