Warner Music Group said Thursday it would drop its patent infringement lawsuit against social-networking site imeem, instead offering access to the music giant's catalog for a cut of the startup's revenue. Imeem didn't disclose the percentage of revenue it would share with Warner. In May, Warner Music sued San Francisco-based imeem , charging the company let users share copyrighted content without permission. Imeem now says it wants to offer other record labels a share of the profit from its music-sharing service in exchange for access to copyrighted content.

Posted by GEN-ERIC at 12:01:36 am into the following categories: In The News

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