LAUNCH Sold to Yahoo!, Settles with UMG
On Thursday of last week, Yahoo! agreed to buy LAUNCH Media, a leading music content portal, for $12 million, in a move that appears to be a follow-up to an earlier $2 million financing deal made between the two companies about a month ago.
In related news, LAUNCH has settled with Universal Music Group. Last month, under the auspices of the RIAA, UMG sued LAUNCH claiming that LAUNCHcast, their streaming Web radio service, operated outside of their license agreement.
It was too interactive. It allowed for too much personalization. Remember?
LAUNCH has now entered into a new non-exclusive license with UMG. They will also remit a payment to UMG for past performances. Financial terms were not disclosed.
LAUNCH - www.launch.com
RIAA - www.riaa.com
UMG - www.umusic.com
Yahoo! - www.yahoo.com
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