Warner Music Group and Bertelsmann very quietly announced today the settlement of the very old Napster lawsuit that began in 2001. Warner will receive $110 million and Bertelsmann will admit no liability.
Details of the settlement are revealed in Warner’s SEC filing. This ranks as a rather hefty windfall for Warner considering the post-bankruptcy Napster, led by CEO Chris Gorog (pictured right), is about as relevant today as MP3.com. Did I mention that Napster songs can’t be played on iPods—the most popular mp3 player on the planet? Apple’s iTunes won this war several years ago.
