MP3.com agrees to licensing deal

Written by 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.

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