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31 Aug 2001
MP3.com has settled its lawsuit with independent record label Zomba, which houses chart-topping acts like Britney Spears and the Backstreet Boys.
Terms of the settlement were not disclosed, but a statement issued by Zomba said that it had "resolved differences [with MP3.com] to their mutual satisfaction and have entered into a licensing arrangement for the My.MP3 service".
MP3.com now has to devote its time to settling another lawsuit filed against it by 50-plus publishers and songwriters.
In the meantime Vivendi Universal, the new MP3.com owners, have replaced chief executive Michael Robertson with the rather more placid Robin Richards, who was previously president.
Robertson will take up the role of "advisor" to Vivendi's chief executive, Jean-Marie Messier.
Vivendi bought MP3.com for $372m in cash and shares. The deal was passed on Monday by shareholders.
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