Online Music Storage Firm MP3tunes Files For Bankruptcy 41
fishmike writes "Online music storage firm MP3tunes, Inc filed for bankruptcy in a U.S. court, following its prolonged run-in with music publishing giant EMI Group over copyright issues, court filings showed. MP3tunes is a so-called cloud music service that lets users store music in online 'lockers.' Amazon.com Inc, Apple Inc and Google Inc have similar cloud services."
Not a lot of assets (Score:4, Informative)
MP3tunes had filed for bankruptcy under Chapter 7 code, which envisages liquidation of a company's operation. In the court filing, the company had listed out assets of about $7,800 and liabilities of $2.1 million.
Good luck with that...
Re:[shrugs] (Score:4, Informative)
Y'all forgot the episode from the last season of the Slashdot Show. If you had caught up with that one, it was all about how this case was supposed to test key legal waters about this area of music copyright law which is the other 80% of the story that Submitter missed. The point was all about what qualifies as your property when it is space-shifted to the cloud vs the liability of the services.
Commentators that time remarked about how "companies as big as Google and Amazon and Apple aren't exactly stupid, so if they all open variants of these music locker services, their chief of legal must have decided that it's better than even chances to call a showdown vs the RIAA. Some other day we can all have lunch and argue about what precise finesses pass muster but that's why you guys should have heard of them.
Re:Never heard of it (Score:5, Informative)
The only bit which rang a bell FTFA:
Based in San Diego, California, MP3tunes was launched in 2005 by Robertson three years after stepping down as CEO of MP3.com, which was also founded by him.