Nokia Buys Loudeye
Nokia and Loudeye Corp. announced that they have signed an agreement for Nokia to acquire Loudeye for approximately $60 million. Under the terms of the agreement, Loudeye stockholders will receive $4.50 per share in cash for each share of Loudeye common stock. By acquiring Loudeye, Nokia can offer consumers a comprehensive mobile music experience, including devices, applications and the ability to purchase digital music. This...
Majors Go After LimeWire
The Recording Industry Association of America (RIAA) filed suit against LimeWire on Friday in the United States District Court in Manhattan. The RIAA, who represent the Major Recording Labels, seeks damages of $150,000 per infringing file. The action comes after negotiations broke down when the RIAA insisted that the current LimeWire service be completely shut down while a new industry-approved application was developed. The RIAA...
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