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Submitted: July 27, 2006 - 8:36am
Last updated: February 21, 2008 - 3:14am
Last updated: February 21, 2008 - 3:14am
KAZAA TO PAY MUSIC INDUSTRY $100 MILLION
[SOURCE: Reuters]
The music industry has reached a legal settlement with veteran antagonist Kazaa, one of the world's best known file-sharing networks and a longtime source of illicit music and movie downloads. Under the terms of the deal, Kazaa's owner Sharman Networks will pay the world's four major music companies -- Universal Music, Sony BMG, EMI and Warner Music -- more than $100 million and commit to immediately going legal, said the International Federation of the Phonographic Industry.
http://today.reuters.com/news/newsArticle.aspx?type=internetNews&storyID=2006-07-27T120142Z_01_L27523430_RTRUKOC_0_US-MEDIA-MUSIC-KAZAA.xml
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