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MY.MP3.COM’S BACK AND THERE’S GONNA BE TROUBLE

Stocks Soar High Enough To Buy ArtistDirect
And A Mocha Latte
MP3.com is gearing up to relaunch its My.MP3.com service, as the company forges a tentative deal with a key group of music publishers (hitsdailydouble, 10/18).

MP3.com's stock soared more than 45% to close at $4 after Wednesday's (10/18) announcement and over $5 in early trading on Thursday.

The online music company agreed to pay up to $30 million over a three-year period in a preliminary pact with the trade group National Music Publishers' Association and licensing subsidiary, the Harry Fox Agency. The deal will encompass payment for past royalties as well as future music use. MP3.com would pay a quarter of a cent each time a song is accessed on the service and a one-time fee of 10-cents each time a user stores a song on the service. The agreement blankets more than one million songs.

The deal must be green-lighted by NMPA clients, in a process that could take up to two months. The agreement must also receive court approval..

MP3.com has reached publishing agreements with MPL Communications and Peer International Corp., as well as copyright settlements with four of the five major labels.

The company is still facing lawsuits from Zomba Records and Publishing, TVT Records and MP3.com shareholders, as well as a potential $100 million-plus penalty to be paid to Universal for "willfully" violating copyrights.

But other than that, things are really looking up!

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