Napster shareholders demand $280 million valuation

Napster is still trying to prove that it can sell MP3s, but for some Napster shareholders fighting a proxy battle to get representation on the board, they'd prefer the company was for sale, and at a premium price. Based on their SEC filing, shareholders are arguing that with the purchase of by CBS for $280 million, Napster should be worth equally as much, if not more. The only reason it's not is because of a "lack of confidence in governance." They seem to be overlooking the fact that doesn't have the brand name baggage but does have a lively community of users.