MP3.com, an online company that promotes and distributes music files online and BMG Entertainment and Warner Music Group two leading music companies, today announced they have reached a settlement in their copyright infringement suit.
Although terms were not disclosed, BMG has granted MP3.com license to use its catalogue of music in My.MP3.com, an online service allowing consumers to store and replay music that they previously purchased. Warner Music Group also granted MP3.com license to allow the use of WMG-controlled recordings on My.MP3.com's "Beam It" and "Instant Listening" software services. WMG says it will share the money received in the settlement and license agreement with its artists.
The settlement and license agreement represent a significant step for BMG, which owns more than 200 record labels, and WMG, to enforce music copyrights and protect its artists' rights online. The development also signals a new working relationship between the companies, whereby consumers are certain to experience new and innovative ways to listen to music from the vast pool of BMG and WMG artists.
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