Vivendi SA unit Universal Music Group and Bolt Inc said they reached an out-of-court, multimillion dollar settlement resolving UMG’s suit, which claimed Bolt let users share music videos and other copyrighted material without permission.
The exact amount of damages to be paid by Bolt wasn’t disclosed.
Bolt also agreed to introduce filters within the next 60 days to prevent its users from posting UMG artists’ music and videos on Bolt.com without payment and consent.
New York-baed Bolt will be acquired by GoFish Corp., which has been a licensed partner of UMG for the last two years.
In October, Universal sued Bolt and Grouper.com, which was acquired by Sony Corp. for $65 million in August.
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