Tech: MySpace screws over its musicians big time with iMeem deal
- lame Despite music being a huge bedrock of the company’s business model, MySpace paid less than $1 million for bankrupt iMeem, which ran the dead pay-for-music service SNOCAP (founded, BTW, by Napster founder Shawn Fanning).
- lamer MySpace did NOT buy iMeem’s liability to pay royalties to musicians who used, umm, MySpace to sell music. Some artists haven’t been paid for over a year. And some of these artists are owed a lot of money. This is bull#)&!. source