Media squares Universal with $53.4m payout

Anything for a quiet life is to cough up $53.4 million to settle its copyright infringement case with Universal Music Group.

Record label giant Universal was upset because it claimed had infringed 6,700 of its copyrighted CDs.

Today's settlement, though fierce, is still better than feared - the San-Diego-based company faced up to $167.5 million in damages. And at one point Universal was after $450 million from the online music-sharing service.

The trial to decide the number of infringements was due to start in New York this afternoon.

In September, Judge Jed Rakoff ordered to pay $25,000 for every copyright infringement on CDs sold by Universal. has already settled out of court with music industry majors EMI, Sony, BMG and Warner. ®

Related Stories losses down two-thirds settles with Paul McCartney, NMPA launches email war on Congress bans hacker song seeks to placate Universal

Sponsored: Go beyond APM with real-time IT operations analytics