Petteri Pyyny
14 Nov 2000 17:05
U.S. District Judge Jed Rakoff on Tuesday awarded $50 million in statutory damages and $3.4 million in legal fees to Universal in lawsuit involving MP3.com's My.MP3.com music service.
Universal made a statement after the case was closed that it will award approximately half of the sum directly to their artists.
UMG and MP3.com also agreed to licence that Universal will licence their music catalog to My.MP3.com service. Universal also will have a possibility to buy 5 percent of MP3.com's stocks.