Word: musicnet
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...company they created, MusicNet, is set to become an online clearinghouse (read: tollbooth) for any website that wants to license recordings for you to download. Of course, AOL and Real.com are first in line. Real owns 40% of MusicNet; the three labels own 20% each. (AOL, Warner Music and TIME are divisions of AOL Time Warner.) But the deal is so unavoidably big, even Napster is thinking about signing...
...With a deal announced Monday between three of the music business's Big Five (Bertelsmann AG, EMI Group and AOL Time Warner, parent company of this writer) and tech outfit RealNetworks to create a pay-for-play service called MusicNet, the industry headed into a Senate Judiciary Committee hearing on online entertainment Tuesday feeling ready to face the future...
...Napster has been trying to keep its users around long enough to kick off its own pay-for-play system in June with an investment by Bertelsmann. Now, with an evidently impatient Bertelsmann getting in on the MusicNet deal, Napster will be a beggar at that banquet - executives at the new service are already imposing stringent conditions about security and legality on Napster's eventual inclusion...