Kazaa to Pay $100 Million to Record Labels
July 27, 2006 4:02 PM
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Kazaa goes legal
In what the recording industry calls a win situation, four record labels have settled a lawsuit with popular P2P sharing network Kazaa. Under the settlement,
Kazaa will pay more than $100 million to four to EMI, Sony BMG, Universal Music and Warner Music
. Kazaa will also commit to going fully legitimate said the report.
According to the International Federation of Phonographic Industry, Kazaa has contributed to a significant amount of "damage" in the music industry. IFPI chairman and CEO John Kennedy said "these are very substantial damages being paid -- in excess of $100 million -- and Kazaa will go legal immediately. They've had time to prepare for this." Representatives for the MPAA also said that Kazaa will be implementing technology that will prevent users from transferring copyrighted material over the network.
The original developers of Kazaa, Niklas Zennstrom and Janus Friis sold Kazaa to Sharman Networks in 2002. Since then, Sharman had been dealing with the MPAA and the RIAA over the legality of Kazaa users transferring copyrighted material. Neither Zennstrom nor Friis was available for comment.
Zennstrom went on to create Skype after selling Kazaa to Sharman. Zennstrom ended up selling
Skype to eBay for roughly $2.6 billion in both cash and stock
This article is over a month old, voting and posting comments is disabled
7/28/2006 12:09:49 PM
I bet you have a gut, have a new shiney useless SUV, and a really pathetic/nostalgic view of the world.
there are several bands and a bunch of albums from the 60's that are great. Ever listen to radio from then? a lot of crap, LOADS of crap. 70's?? what absolute crap besides a few incredibly talented bands. 80's was unique and all BRAND NEW. 90's brough gothic up, brought atmospheric, made rap not r and b not crappy for like 2-3 years (now its absolute fecal matter), made a thing called Grunge, made progressive metal non-gay, brought about norwegian, finnish and japanese metal. Yeah, if you want to listen to yellow submarine and trim your earhairs, sure the 80's 90's brought nothing to you. (and you brought nothing to the 80's and 90's)
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