Warner Music Group and AnywhereCD Settle Agreement Dispute
AnywhereCD To Sell Warner CDs Bundled With MP3 Tracks through September
June 7, 2007 – BUSINESSWIRE — Warner Music Group (WMG) and AnywhereCD – www.anywherecd.com – have settled their dispute regarding the scope of their agreement and will be dismissing their respective lawsuits. In the course of settlement discussions, it became clear that the parties had differences as to both the scope of their agreement and the direction of the business model. As a result, the parties mutually agreed to an early termination of their current relationship as of September 30, 2007, until which time AnywhereCD will continue to sell WMG content as bundles of shipped physical CDs with immediately available corresponding downloadable MP3 albums.
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, 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.
AnywhereCD – www.anywherecd.com – is an online music distribution service founded in 2007 by Michael Robertson. Through the site, consumers for the first time can purchase CDs along with legal MP3 albums that can be downloaded to any player. AnywhereCD is committed to delivering consumers’ music that they own forever.
For Warner Music Group
Enfuego Strategic Communications