Bertelsmann, the German media giant that provided financial backing to Napster when it was an unauthorized file-sharing service, has agreed to settle with the last of the major record companies that had sued it for copyright infringement, the New York Times reports.
Under the settlement with the EMI Group, the big British company that releases music by artists like Norah Jones and Joss Stone, Bertelsmann will pay an undisclosed sum but admit no liability. Bertelsmann provided Napster with $85 million in loans starting in late 2000.
In lawsuits filed in 2003, EMI, the Universal Music Group and several independent publishers accused Bertelsmann of contributing to copyright infringement by aiding Napster, which enabled millions of users to trade pirated songs. Napster has since been reborn as a legal subscription service.
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