Kazaa Settles For Over $100 Million
July 27, 2006 at 6:49 AM (PT)
UNIVERSAL MUSIC, SONY BMG, EMI and WARNER MUSIC have reached a settlement with peer-to-peer site KAZAA, in which the file-sharing network will pony up over $100 million and agree to go legit immediately.
REUTERS quoted INTERNATIONAL FEDERATION OF THE PHONOGRAPHIC INDUSTRY Chairman/CEO JOHN KENNEDY as saying, "There 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."