Merlin, the rights agency for independent record labels representing acts including Adele and Arctic Monkeys, has reached a landmark deal with LimeWire worth millions of dollars to artists to end a long-running legal battle over illegal file sharing. The out-of-court settlement, which is thought to be worth between $5m and $10m, is the largest the independent music sector has won in its battle against digital music piracy.
BMG Rights Management has acquired the assets of R2M Music. R2M (publisher) was founded in 2006 by ex-Sony ATV management execs Paul Russell, Richard Rowe and Phil May. The deal includes 12,000 copyrights, with 35 Top Ten hits. As part of the transaction BMG has picked up the LeFrak catalogue, home to hits by 2Pac and Neil Sedaka. The financial terms of the transaction were not disclosed.