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 MySpace & Major Labels Venture

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Join date : 2008-03-25

PostSubject: MySpace & Major Labels Venture   Thu Apr 03, 2008 10:19 pm

Myspace and Sony BMG, Warner, and Universal (EMI is still negotiating) will be creating a joint Myspace Music venture. Under the terms of the deal, NewsCorp will throw in $120 mil (of which most will go to Universal for some reason). In return, the labels will drop their lawsuit against Myspace. Most notably, the joint corporation will have streaming and downloading rights for every artist on the labels' rosters.

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