Kazaa settles lawsuit for $100 million
July 27, 2006
Kazaa’s owner Sharman Networks will pay the world’s four major music companies — Universal Music, Sony BMG, EMI and Warner Music — more than $100 million (54 million pounds) and commit to going legitimate, according to the International Federation of the Phonographic Industry.
“There are very substantial damages being paid — in excess of $100 million — and Kazaa will go legal immediately”
Two suits were settled as part of the agreement: one in Australia, where a judge had already ruled that the company breached copyright; and another in California, in which Kazaa creators Niklas Zennstrom and Janus Friis were named as co-defendants.
Zennstrom and Friis, who sold Kazaa to Sharman Networks in 2002, later went on to create the popular Internet telephony software Skype, which they sold to eBay last year for an initial $2.6 billion in cash and stock.
News source from Reuters.
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