NEW YORK, NY, Apr 24, 2007 -- Warner Music Group Corp. (NYSE: WMG) and Bertelsmann AG today
jointly announced a settlement of contingent claims held by WMG
relating to Bertelsmann's relationship with Napster in 2000-2001.
The settlement covers the resolution of the legal claims of WMG's
recorded music and music publishing businesses. Bertelsmann admits no
liability in making this settlement.
About Warner Music Group
Warner Music Group became the only stand-alone music company to be
publicly traded in the United States in May 2005. With its broad
roster of new stars and legendary artists, Warner Music Group is home
to a collection of the best-known record labels in the music industry
including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra,
Lava, Maverick, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire,
Warner Bros. and Word. Warner Music International, a leading company
in national and international repertoire, operates through numerous
international affiliates and licensees in more than 50 countries.
Warner Music Group also includes Warner/Chappell Music, one of the
world's leading music publishers, with a catalog of more than one
million copyrights worldwide.