-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IQtXBBhCVsfHZqayiEi3SVOjCdZDLrq8WtLdhR2GUJPaUk4QVdau2Q7FT2Mkc5CH BMW6EDLlFxkBBGSRgOWV3w== 0000902664-08-002134.txt : 20080527 0000902664-08-002134.hdr.sgml : 20080526 20080527163540 ACCESSION NUMBER: 0000902664-08-002134 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080527 DATE AS OF CHANGE: 20080527 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NAPSTER INC CENTRAL INDEX KEY: 0001122787 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 770551214 STATE OF INCORPORATION: DE FISCAL YEAR END: 1210 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78044 FILM NUMBER: 08861109 BUSINESS ADDRESS: STREET 1: 9044 MELROSE AVENUE CITY: LOS ANGELES STATE: CA ZIP: 90069 BUSINESS PHONE: 3102815000 MAIL ADDRESS: STREET 1: 9044 MELROSE AVENUE CITY: LOS ANGELES STATE: CA ZIP: 90069 FORMER COMPANY: FORMER CONFORMED NAME: ROXIO INC DATE OF NAME CHANGE: 20000825 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: EMINENCE CAPITAL LLC CENTRAL INDEX KEY: 0001107310 IRS NUMBER: 134036527 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 65 EAST 55TH STREET STREET 2: 25TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-418-2100 MAIL ADDRESS: STREET 1: 65 EAST 55TH STREET STREET 2: 25TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 p08-1041sc13da.txt NAPSTER, INC. SECURITIES & EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A* (RULE 13D-101) Amendment No. 1 INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO 13D-2(A) NAPSTER, INC. - -------------------------------------------------------------------------------- (NAME OF ISSUER) COMMON STOCK - -------------------------------------------------------------------------------- (TITLE OF CLASS OF SECURITIES) 630797108 - -------------------------------------------------------------------------------- (CUSIP NUMBER) Ricky C. Sandler Eminence Capital LLC, 65 East 55th Street, 25th Floor, New York, NY 10022 (212) 418-2100 (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS) May 22, 2008 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box |_|. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on following pages) - -------------------------------------------------------------------------------- CUSIP No. 630797108 13D Page 2 of 10 Pages - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Eminence Capital, LLC - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) |_| (b) |_| - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) SOURCE OF FUNDS ** OO - -------------------------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER SHARES - 0 - BENEFICIALLY ------------------------------------------------------------- OWNED BY (8) SHARED VOTING POWER EACH 4,275,838 REPORTING ------------------------------------------------------------- PERSON (9) SOLE DISPOSITIVE POWER WITH -0- ------------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 4,275,838 - -------------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,275,838 - -------------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES** |_| - -------------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.3% - -------------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON ** IA - -------------------------------------------------------------------------------- ** SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 630797108 13D Page 3 of 10 Pages - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Eminence GP, LLC - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) |_| (b) |_| - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) SOURCE OF FUNDS ** WC - -------------------------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER SHARES - 0 - BENEFICIALLY ------------------------------------------------------------- OWNED BY (8) SHARED VOTING POWER EACH 4,275,838 REPORTING ------------------------------------------------------------- PERSON (9) SOLE DISPOSITIVE POWER WITH -0- ------------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 4,275,838 - -------------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,797,968 - -------------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES** |_| - -------------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.9% - -------------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON ** OO - -------------------------------------------------------------------------------- ** SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 630797108 13D Page 4 of 10 Pages - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Ricky C. Sandler - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) |_| (b) |_| - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) SOURCE OF FUNDS ** OO - -------------------------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER SHARES - 0 - BENEFICIALLY ------------------------------------------------------------- OWNED BY (8) SHARED VOTING POWER EACH 4,275,838 REPORTING ------------------------------------------------------------- PERSON (9) SOLE DISPOSITIVE POWER WITH -0- ------------------------------------------------------------- (10) SHARED DISPOSITIVE POWER 4,275,838 - -------------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,275,838 - -------------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES** |_| - -------------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.3% - -------------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON ** IN - -------------------------------------------------------------------------------- ** SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------------------------------------------------------- CUSIP No. 630797108 13D Page 5 of 10 Pages Item 1. Security and Issuer. The Schedule 13D initially filed on August 28, 2006, relating to the common stock, par value $0.001 (the "Common Stock") of Napster, Inc. (the "Company"), a Delaware corporation whose principal executive offices are located at 9044 Melrose Avenue, Los Angeles, California 90069 is hereby amended and restated in its entirety by this Amendment No. 1 to the Schedule 13D. Item 2. Identity and Background. This statement is filed on behalf of each of the following persons (collectively, the "Reporting Persons"): (i) Eminence Capital, LLC, a New York limited liability company ("Eminence Capital"); (ii) Eminence GP, LLC, a New York limited liability company ("Eminence GP"); and (iii) Ricky C. Sandler, a U.S. Citizen ("Mr. Sandler"). (a) This statement relates to shares of Common Stock held for the accounts of: Eminence Partners, LP, a New York limited partnership ("Eminence I") and Eminence Partners II, LP, a New York limited partnership (together with Eminence I, the "Partnerships") and Eminence Fund, Ltd. ("Offshore Fund"), a Cayman Islands company. The Partnerships and the Offshore Fund are collectively referred to as the "Eminence Funds". Eminence Capital serves as the investment manager to the Eminence Funds with respect to the shares of Common Stock directly owned by the Eminence Funds and may be deemed to have voting and dispositive power over the shares held for the accounts of the Eminence Funds. Eminence GP serves as general partner or manager with respect to the shares of Common Stock directly owned by the Partnerships and may be deemed to have voting and dispositive power over the shares held for the accounts of the Partnerships. Ricky C. Sandler is the Managing Member of each Eminence Capital and Eminence GP and may be deemed to have voting and dispositive power with respect to the shares of Common Stock directly owned by the Eminence Funds. - -------------------------------------------------------------------------------- CUSIP No. 630797108 13D Page 6 of 10 Pages (b) The address of the principal business and principal office of Eminence GP and Eminence Capital is 65 East 55th Street, 25th Floor, New York, NY 10022. The business address of Mr. Sandler is 65 East 55th Street, 25th Floor, New York, NY 10022. (c) The principal business of Eminence GP is serving as a general partner to the Partnerships and other clients and manager to ( other clients. The principal business of Eminence Capital is that of an investment manager engaging in the purchase and sale of securities on behalf of clients. Mr. Sandler serves as the Managing Member of Eminence GP and Eminence Capital. (d) None of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws. (f) Each of Eminence GP and Eminence Capital is a limited liability company organized under the laws of the State of New York. Mr. Sandler is a United States citizen. Item 3. Source and Amount of Funds and Other Consideration. The net investment cost (including commissions, if any) of the shares of Common Stock directly owned by the Eminence Funds is approximately $14.4 million. Mr. Sandler, Eminence GP and Eminence Capital do not directly own any shares of Common Stock. Item 4. Purpose of the Transaction. The purpose of the acquisition of the shares of Common Stock by the Reporting Persons is for investment, and the purchases of the shares of Common Stock by the Reporting Persons were made in the ordinary course of business and were not made for the purpose of acquiring control of the Company. Although the acquisition of the shares of Common Stock by the Reporting Persons is for investment purposes, the Reporting Persons may pursue discussions with management in an effort to maximize long-term value for shareholders. Each of the Reporting Persons may make further purchases of shares of Common Stock from time to time and may dispose of any or all of the shares of Common Stock held by him or it at any time. None of the Reporting Persons has any plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (b) through (j), inclusive, of Item 4 of the Schedule D. Each of the Reporting Persons may, at any time and from time to time, review or reconsider his or its position and formulate plans or proposals with respect thereto, but has no present intention of doing so. - -------------------------------------------------------------------------------- CUSIP No. 630797108 13D Page 7 of 10 Pages Item 5. Interest in Securities of the Issuer. A. Eminence Capital, LLC (a) Aggregate number of shares beneficially owned: 4,275,838 Percentage: 9.3% The percentages used herein and in the rest of Item 5 are calculated based upon the 46,122,000 shares of Common Stock issued and outstanding at March 31, 2008 as set forth in Ex-99.1 (Earnings Release) of the Company's Form 8-K filed on May 21, 2008. (b) 1. Sole power to vote or direct vote: -0- 2. Shared power to vote or direct vote: 4,275,838 3. Sole power to dispose or direct the disposition: -0- 4. Shared power to dispose or direct the disposition: 4,275,838 (c) The trading dates, number of shares of Common Stock purchased or sold and the price per share for all transactions in the Common Stock in the last sixty days, which were all in the open market, are set forth in Exhibit 1 and are incorporated by reference. (d) Each of the clients of the Investment Manager has the power to direct the receipt of dividends from or the proceeds of the sale of such shares. (e) Not applicable. B. Eminence GP, LLC (a) Aggregate number of shares beneficially owned: 1,797,968 Percentage: 3.9% (b) 1. Sole power to vote or direct vote: -0- 2. Shared power to vote or direct vote: 1,797,968 3. Sole power to dispose or direct the disposition: -0- 4. Shared power to dispose or direct the disposition: 1,797,968 (c) The trading dates, number of shares of Common Stock purchased or sold and the price per share for all transactions in the Common Stock in the last sixty days, which were all in the open market, are set forth in Exhibit 1 and are incorporated by reference. (d) Not applicable. (e) Not applicable. - -------------------------------------------------------------------------------- CUSIP No. 630797108 13D Page 8 of 10 Pages C. Ricky C. Sandler (a) Aggregate number of shares beneficially owned: 4,275,838 Percentage: 9.3% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 4,275,838 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 4,275,838 (c) The trading dates, number of shares of Common Stock purchased or sold and the price per share for all transactions in the Common Stock in the last sixty days, which were all in the open market, are set forth in Exhibit 1 and are incorporated by reference. (d) Not applicable. (e) Not applicable. Item 6: Not applicable Item 7: Material to be filed as Exhibits Exhibit 1: Schedule of transactions effected by Reporting Persons in the last sixty days. - -------------------------------------------------------------------------------- CUSIP No. 630797108 13D Page 9 of 10 Pages SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. DATED: May 27, 2008 /s/ Ricky C. Sandler ----------------------------------------- Ricky C. Sandler, individually, and as Managing Member of Eminence Capital, LLC, and as Managing Member of Eminence GP, LLC - -------------------------------------------------------------------------------- EXHIBIT 1 CUSIP No. 630797108 13D Page 10 of 10 Pages Eminence Capital, LLC Eminence GP, LLC Ricky C. Sandler PRICE PER SHARE (INCLUDING NUMBER OF SHARES COMMISSIONS, DATE OF TRANSACTION PURCHASED/(SOLD) IF ANY) - ----------------------- ---------------- ------------- 5/22/2008 342,272 $1.54 ---------------- ------------- -----END PRIVACY-ENHANCED MESSAGE-----