EMUSIC SNAPPED UP BY UNIVERSAL MUSIC GROUP

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(April 9, 2001) -- Emusic.com, a subscription-based music download site, agreed to be acquired by Universal Music Group for $23 million. The company also ran sites including rollingstone.com and the jazz site downbeat.com. It was having trouble gaining a following in the wake of the music-sharing service Napster, which until recently offered free downloads. Universal was one of the record labels that successfully gained an injunction against Napster, alleging copyright infringement. Universal is also involvedwith Sony Music Entertainment in the new Duet service, which the two labels are launching in conjunction with Yahoo! Universal is a unit of Vivendi Universal. -- Catharine P. Taylor

Copyright April 2001, Crain Communications Inc.

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