Jari Ketola
18 Oct 2000 13:34
MP3.com has reached a preliminary settlement with the National Music Publishers' Association Inc.. The settlement will make more than 1 million songs available through MP3.com's My.MP3.com -service.
The three-year deal will cost MP3.com up to $30 million in licensing costs. The settlement also means that NMPA will drop the lawsuit they presented in March against MP3.com.
Shares of MP3.com rose 66 cents to $3.41 in trading on the Nasdaq Stock Market.