SAN FRANCISCO EMI Group Plc and Bertelsmann AG have reached a settlement on litigation stemming from the German media company's investment in music file-sharing software company Napster, the two companies said on Monday.
They did not release details of the agreement, which settles one of the numerous lawsuits targeting Napster. Bertelsmann admitted no liability as part of the settlement.
"We are pleased to have reached this agreement with Bertelsmann," said Eric Nicoli, chief executive of EMI Group. "We can now put this matter behind us and continue to pursue the development of new legitimate digital music business models."
The lawsuit stems from Bertelsmann's decision in 2000 to invest in Napster after the once wildly popular site was crippled by lawsuits seeking to shut down the network, which music companies accused of enabling users to steal music.