http://www.msnbc.msn.com/id/6590520
3 music giants create new online service
'Peer Impact' to offer legal way to song swap
Updated: 5:39 p.m. ET Nov 26, 2004
LOS ANGELES - Three major recording companies have agreed to make their music available to be shared and sold over a new online file-swapping service that aims to lure music fans away from rival services where trading of music and movies remains unfettered.
Universal Music Group, Sony BMG Music Entertainment and Warner Music Group -- three of the four major recording companies -- have licensed their catalog of music to Saratoga Springs, N.Y.-based Wurld Media, the firm said Wednesday.
Wurld Media plans to launch its file-sharing software, dubbed Peer Impact, early next year.
see it's legal now tell me how they are making money? I don't get it.