Bolt Settles With Universal
Web site Bolt.com was one a few holdouts against the entertainment industry's legal assault on web-based video sharing. No more. The company has settled with Universal Music Group.
The settlement covers both past and future alleged infringements. The deal to kill litigation and secure licensing is not cheap. The site will pay Universal several million dollars and transfer $30 million in GoFish stock, a media search service recently acquired by Bolt. In addition Bolt will pay a fee on future uploads from Universal.
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