Napster Inc., the once popular Internet site where legions of fans swapped music files until major record labels stifled the practice, filed for Chapter 11 bankruptcy protection from creditors today
in the U.S. Bankruptcy Court in Wilmington , Del.. In court papers Napster listed assets of $7.9 million and liabilities of $101 million as of April 30. The amounts don't include contingent or
disputed liabilities for alleged copyright-infringement claims or other claims asserted against the Internet music pioneer in pending or threatened litigation. Subsidiaries Napster Mobile Co. and
Napster Music Co. also filed for Chapter 11.
