Warner and Sony settle $50m bankruptcy claims with Beyond Oblivion
Warner and Sony Music have each settled the vast majority of their $50 million bankruptcy claims against Beyond Oblivion as the troubled start-up tries to revive its new music service Boinc.
While the claims will still stand, the parties have agreed a cap on payments that will see the two labels collect just $1.5 to 2 million each, pending judge approval.
Beyond Oblivion filed for Bankruptcy in January after attempting to set up new cloud-based music service Boinc, which would ...
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