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Warner Music Group Grants MP3.com License For MyMP3.com Service |
| NEW YORK and SAN DIEGO, June
9 /PRNewswire/ -- Warner Music Group (WMG) announced today that it has entered into a
settlement of its claims under the copyright-infringement suit brought by affiliates of
the five major record companies against MP3.com (Nasdaq: MPPP), arising out of the launch
of the My.MP3.com system late last year. At the same time,
WMG announced that it has entered into a North American license with MP3.com for use of
WMG-controlled recordings on My.MP3.com's popular ``Beam-It'' and ``Instant Listening''
software services. These services allow users to insert into their My.Mp3.com Music Manager (i.e. personal locker) copies of CDs
they already own. WMG will share the monies received in connection with the settlement and
license agreement with its artists in accordance with the terms of their agreements. Said Warner Music Group executive vice president, strategic planning and business development Paul Vidich, ``This is an important moment for recording artists and copyright owners. This settlement ends an unfortunate period in our history with MP3.com. We are pleased that, having entered into a license agreement, MP3.com can now move forward and offer Warner Music Group's recordings on its popular My.MP3.com system. The settlement agreement clearly affirms the right of copyright owners to be compensated for the use of their works on the Internet.'' Said Robin Richards, MP3.com president and chief negotiator, ``Our license agreement with Warner Music Group will put us in a better position to demonstrate how our robust technical infrastructure can enhance and stabilize the digital music space from a consumer-marketing, royalty-tracking and copyright-protection perspective. We look forward to collaborating with WMG over the coming years on many new and unique promotions.'' Added Michael Robertson, chairman and CEO of MP3.com, ``Throughout our negotiation, WMG was clear in its position that our entire approach to the use of recordings should be for the benefit of consumers, artists and copyright owners. The digital music space is still in its infancy. We look forward to working with WMG to expand its boundaries and are grateful to the entire WMG team for the insight and trust they've demonstrated and for making this opportunity possible.'' About MP3.com MP3.com allows users to access, manage, and listen to their personal music collection anytime and anywhere in the world, using any web-enabled device or application. MP3.com enables more than 67,000 artists to distribute and promote their music worldwide while enabling consumers to conveniently access this expanding music catalog. Consumers can search for, listen to and download music free of charge. MP3.com shares are traded on the Nasdaq National Market under the ticker symbol MPPP. The company is based in San Diego, California. For more information on MP3.com, visit http://www.mp3.com. About Warner Music Group Warner Music Group is home to some of the world's leading record companies, including The Atlantic Group, Elektra Entertainment Group, Rhino Entertainment, London-Sire Records and Warner Bros. Records, Inc. The company's Warner Music International, with a roster of more than 1,000 artists, operates in 65 countries through a network of 47 affiliates, 24 licensees and seven associated labels. Warner Music Group also includes one of the world's leading music publishers, Warner/Chappell and WEA Inc., which is comprised of three companies, WEA Corp., WEA Manufacturing, and Ivy Hill. Warner Music Group is a division of Time Warner Inc. SOURCE: Warner Music Group |
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