RUMOR MILL
Back to Rumor Mill >
Wednesday, March 7, 2001

MP3.COM SHARES DROP 14%

by

Marc Pollack

In Real World Numbers, That’s Nearly
Two Jumbo Gumballs
Reflecting the current legal turns in the distribution of music online, shares in netco MP3.com fell 14% Tuesday (3/6), predominantly in response to the courts' anti-Napster decision.

The downfall also coincides with U.S. District Judge Jed Rakoff's summary judgment Tuesday against MP3.com in a copyright suit brought by independent label TVT (hitsdailydouble.com, 3/6).

Rakoff ruled Tuesday that MP3.com infringed upon copyrights owned by TVT's Tee Vee Toons by making unauthorized copies of Tee Vee songs for distribution on its My.MP3.com service.

MP3.com argued that Tee Vee, unlike the major record labels, offered free downloads of its music on its website and thus wasn't harmed by MP3.com's service.

At the close of Nasdaq trading Tuesday, shares of MP3.com fell 47 cents, or 14%, to $2.88.

TAGS: Marc Pollack
 
BACK TO RUMOR MILL
 
HITS LIST: HORSEPOWER
VRRMMMM (5/20a)
Check It Out Now
HARD LAUNCH: EILISH GOES BIG AGAIN
"Lunch" and other tasty treats (5/20a)
Check It Out Now
OH, TANNENBAUM! ANOTHER GREAT CAREER HITS THE SKIDS
Another talented journalist trapped in the career cul de sac (5/20a)
Check It Out Now
NEAR TRUTHS: VARIANTS
Celebrity death match underway on album chart. (5/17a)
Check It Out Now
ON THE COVER:
HOZIER
Pour some sugar on us. (5/20a)
Check It Out Now
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

By clicking submit you are agreeing
to Terms and Conditions