Punknews.org is reporting that Napster.com was just bought by Best Buy. The electronics giant revealed it has purchased the internet downloading site for $121 million. The move is clearly an effort to catch up with Apple’s iTunes music store and Amazon.com’s online music stores. Myspace is even set to enter the fray as well.

This has lead some to wonder just what the hell Best Buy thinks is going to happen now. They are squaring off against the two biggest outlets for online music purchases in the world with another, with an already built-in user body, on the way.

Good luck, Best Buy.