EMI and Bertelsmann Settle Napster Litigation

EMI and Bertelsmann have reached a settlement on litigation stemming from the German media company's investment in music file-sharing software company Napster, the two companies said Monday.

They did not release details of the agreement, which settles one of the numerous lawsuits targeting Napster.

Bertelsmann admitted no liability as part of the settlement.

"We are pleased to have reached this agreement with Bertelsmann," said Eric Nicoli, chief executive of EMI.

"We can now put this matter behind us and continue to pursue the development of new legitimate digital music business models."

The lawsuit stems from Bertelsmann's decision in 2000 to invest in Napster after the once wildly popular site was crippled by lawsuits seeking to shut down the network, which music companies accused of enabling users to steal music.

Contact U.S. News


    Get the best of CNBC in your inbox

    › Learn More*

Don't Miss

U.S. Video

  • The Weather Channel's Keith Carson takes a look at where travelers can expect weather-related problems as a major winter storm makes its way up the East Coast.

  • Wall Street looks to get back on a winning streak today, after taking a break from its record-setting ways. An east coast storm warning and the upcoming Thanksgiving holiday promise to make for thin trading.

  • SideChef is a new app that talks you through each step of a recipe, using audio commands and pictures.Short tutorials are available in case the user doesn't know how to mince garlic or toss a salad. CNBC's Jane Wells gives it a try.