I See Your $1 Billion Offer And Raise You...

from the bidding-wars dept

Following on Napster's $1 billion offer to record labels, relatively unkown streaming media player, J. River has offered $3 billion to record labels in exchange for the digital distribution rights to their music. I think this is setting a dangerous precedent. The record labels may eventually agree to one of these - which will be impossible because the company will not actually be able to pay off the amount promised.