RUMOR MILL
EMI's investment in Roxio marks the first time a major label has gotten involved in making it easier for fans to burn music onto CDs.
Tuesday, June 5, 2001
EMI BUYS INTO ROXIO
Tech Company Likes Burning Things — CDs, Midnight Oil, Witches, Whatever
EMI has bought a minority stake in technology company Roxio that will make it possible for customers to legally burn CDs of music downloaded from the Internet.
It is the first time a major music label has taken a step to permit and profit from CD burning.
Terms were not disclosed, but sources familiar with the deal said EMI made a small investment in the company.
EMI's investment in Roxio marks the first time a major label has gotten involved in making it easier for fans to burn music onto CDs. Most other online label initiatives have involved the streaming or limited downloading of music onto computer hard drives.
Some of the deal specifics have yet to be determined, but both parties promise to be rolling by year's end.
