Napster.com, long associated with the trading of digital music files, may soon have a new connotation.

An adult entertainment media company that claims to own the largest library of adult content (that's porn to you and I) is bidding to purchase the Napster trademark and Napster.com domain name.

Barcelona-based Private Media Group has offered one million shares of common stock in exchange for the assets. At the close of market yesterday its shares were worth $2.41 (£1.54) on the Nasdaq stock exchange.

The company said it hopes to create a peer-to-peer trading system that would allow users to swap adult content, with both a free and a fee-based subscription offering. The company said it aims to develop a legal file-swapping community for adults to share content provided by both private and partner companies.

Napster filed for Chapter 11 bankruptcy protection in June. Early this month Judge Peter Walsh of the US Bankruptcy Court blocked a proposed acquisition of Napster's assets by German media conglomerate Bertelsmann.