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Article: Napster offers $1 billion to settle lawsuit.(Company Business and Marketing)
- Article from:
- Network World
- Article date:
- February 21, 2001
- Author:
CopyrightCOPYRIGHT 2001 Network World, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Napster, the controversial and popular Internet song-swapping service, Tuesday outlined a proposal that it hopes will end the ongoing litigation brought against it by the Recording Industry Association of America on behalf of five major record labels.
Napster has offered to pay the record labels a total of $1 billion over 5 years to settle the lawsuit, a spokesperson for Napster said. In return, the company would be permitted to continue to allow users to trade copyrighted music over its service in return for a membership fee for Napster's service.
"This is [Napster's] proposal for the new, membership-based plan which they are hoping the record labels ...