Word: bertelsmann
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Napster announced an agreement with German media giant Bertelsmann Tuesday, under which the music-sharing service will begin to charge its online members, funneling some of the profits to record companies and the artists that hold copyrights on the songs...
...agreement effectively ends the involvement of Bertelsmann subsidiary BMG in a lawsuit filed against the renegade company, although its effect on other major labels--and on a request made to Harvard to ban students from using the site--remains unclear...
...Bertelsmann's chief executive officer, Thomas Middelhoff, said his company agreed to lend Napster a substantial amount of money to help finance the transition, and, in turn, will receive an option to buy a part of the company...
...billion marriage of America Online and Time Warner, whose holdings include this magazine. And as in a Vivendi-Seagram deal, these hookups increasingly reach across borders. Last month Spain's Terra Networks, an Internet provider, agreed to pay $12.5 billion for the U.S. portal Lycos; the German media giant Bertelsmann will also be a partner...
...last bullet, but a group of similarly accused corporate giants have decided to raise the white flag. The result: That coveted CD of Britney Spears' warblings will now be $2 to $5 cheaper at a music store near you. The music biz's Big Five - Sony, Bertelsmann, EMI, Universal and Time Warner (corporate cousin to this web site) - which control 85 percent of the $15 billion CD market, settled with the FTC Wednesday on charges that they've been leaning for years on music retailers to fix CD prices by threatening to withhold promotional budgets from stores that...