digital-media space

Consumer electronics giant Best Buy announced Monday that it will acquire digital-music pioneer Napster for $121 million. Under the terms of the agreement, Napster shareholders will receive $2.65 for each outstanding share. The companies expect the purchase to be completed in the fourth quarter.

Brian Dunn, president and COO of Best Buy, said the deal will give the retailer's customers an expanded range of options for the delivery of electronic media.