MP3.com Slammed for $250 Million
15 Comments
U.S. District Judge Jed S. Rakoff today ruled against MP3.com, forcing the company to pay Universal Music Group $25,000 USD for each CD copied to the MyMP3.com database, an amount totalling almost $250 million. Shares of the company dropped sharply after the ruling, leading many to question the future of the company. MP3.com told the judge that any pently oover $500 per CD would be a "death sentence". MyMP3.com has a database of 80,000 CDs which users may listen to after the service establishes ownership of the CD.