Sony Licenses Music for Song-Swapping CenterSpan
CenterSpan Communications Corp. on Thursday said it struck a deal to distribute Sony Music Entertainment’s music on its peer-to-peer service, marking the first time a major record label has licensed its content to a file-sharing company. CenterSpan agreed to pay Sony Music, a unit of Sony Corp., about $2 million in cash plus 283,556 shares and a warrant to buy 189,037 additional shares of its common stock at an exercise price at $8.11 per share, according to a filing with the Securities and Exchange Commission. CenterSpan’s stock on Thursday closed up almost 41 cents at $8.75 on Nasdaq. Internet content… Read more »
