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Posted on December 13, 2009 | tags

 
 

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