Napster Offers $1 Billion
In a last effort to prevent a shutdown, Napster has offered the record companies $1 billion over 5 years to allow the continuation of the file-swapping service. This would give the five major record companies $150 million a year, and an additional $50 million would be shared by independant labels. This money would be generated by the subscription service Napster will be introducing later this year. The response from the RIAA? Negative, as you might've expected
"To the management of Napster I say again: You claim you want to be legitimate and negotiate licenses based on real business models," [RIAA Chief Executive Officer Hillary] Rosen said. "I urge you to act accordingly. Stop the infringements, stop the delay tactics in court, and redouble your efforts to build a legitimate system."
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