Napster deal with MusicNet faces stiff challenges
The deal between Napster and MusicNet pits three major record labels against two in the race to develop an Internet music system consumers will pay for.
Janet Jackson’s latest banned in Singapore
Singer Janet Jackson’s latest album will remain on the banned list in Singapore unless an offending track containing explicit lyrics is removed. “The distributor can release the album ‘All for You’ by removing the objectionable track ‘Would You Mind,’ ” a spokeswoman for the Films and Publications Department said.
Napster Shut Down
A federal judge shut down the trading of copyrighted music on Napster Inc. today, saying the online company was encouraging “wholesale infringing” against the music industry. Both lawyers for Napster and the recording industry made their cases today. The company’s lawyers say Napster lets music fans share material. The record industry says it’s copyright infringement. The Recording Industry Association of America wants a trial over whether the company violates copyright law.
MP3.com shares jump
Shares of MP3.com (MPPP) rose as much as 40% on reports that the Internet music company is close to settling a copyright infringement lawsuit brought by the major record labels that will allow it to license their music. The stock rose $3 to $14.63 in midafternoon trading of 2.74 million shares, more than twice the three-month daily average of 978,300. The stock earlier touched $16.25. MP3 has been discussing a settlement with the music companies, especially after a federal judge ruled in April that it's infringing on their copyrights through the My.MP3.com service, which lets computer users connect over the Internet to a library of 80,000 CDs. The Wall Street Journal said today that at least one of the five major labels, Time Warner's Warner Music Group, is close to an agreement in which MP3.com would pay damages and license its music. MP3.com is expected to pay Warner Music between $15 million and $20 million to settle the lawsuit.
Bandleader Tito Puente dies at 77
Bandleader and percussionist Tito Puente, who rode to fame on the heels of the 1950s mambo craze and for the next five decades helped define Latin jazz, has died. He was 77. Puente, who was recently treated for a heart problem, died Wednesday at NYU Medical Center, his agent said. Puente recorded more than 100 albums in his six decades in the business. In February, he won his fifth Grammy for best traditional tropical Latin performance for Mambo Birdland. Artists who collaborated with him included Carlos Santana, whose early hits include Puente's Oye Como Va.
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