The price for the Marlborough Underwriting Agency was undisclosed.
The deal marks a significant shift by one of the five music companies that are suing Napster for copyright infringement.
The all-stock deal was initially valued at $690 million.
Analysts applaud as the franchising giant follows a broad strategy to bolster its stock price.
The company, as expected, added fewer mobile telephone subscribers than analysts initially had predicted.
Ad sales boosted the data.
The results mark the 14th consecutive quarter the company has met or surpassed analysts' expectations.
The company announces an aggressive reorganization plan to help reverse the trend of its struggling stock.
The company also expects its earnings for 2001 to beat expectations.