The technically dead Napster is in talks with prospective buyers about an emergency loan to keep it afloat until it is sold.
According to Associated Press reports, the defunct online music-sharing service has been locked in emergency bankruptcy hearings, and has asked for more time to work out the specifics of the proposed final loans with Napco Lending.
Napco is the lending arm of the prospective purchaser, the identity of which has not yet been made public.
A spokesman for the attorneys representing Napster's committee of unsecured creditors has confirmed that talks with other prospective purchasers are in progress.
In the meantime, the company is considering selling some of its hard assets to generate cash.
In September, a bankruptcy judge blocked the sale of Napster's assets to chief investor Bertelsmann, citing conflicting loyalties between the companies' executives.
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