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Warner Music strikes licensing deal in settlement
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More from BusinessLOS ANGELES (AP) — Warner Music Group Corp. said Thursday that it had settled its copyright infringement lawsuit against the social networking Web site imeem by agreeing to license its music and video content to the site for a slice of its ad revenue.
Financial details of the settlement were not disclosed.
Under the agreement, imeem Inc. can carry music and videos from all of the record company's artists.
San Francisco-based imeem launched in 2004. It has morphed into a social networking Web site that also streams free audio and video next to advertisements.
New York-based Warner is the first major record label to sign a licensing deal with imeem. The site also has content deals with smaller labels and independent film studios, an imeem spokesman said.
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