Beijing Business Today, 3/04/13
The Beijing High People's Court reported today that four record labels — Universal Music, Warner Music Group, Sony Music Entertainment, and Gold Typhoon Entertainment — have agreed to mediation in an RMB 54 mln suit against Chinese Internet firm Sohu (Nasdaq: SOHU) and its search subsidiary Sogou alleging infringing use of 105 songs. Under the terms of the agreement, the four record labels will seek no further action against Sogou, and Sogou will contribute funds to the establishment of an International Federation of the Phonographic Industry (IFPI) fund to combat piracy. Sogou will also pay licensing fees to the labels in exchange for permission to upload complete song catalogues and new songs. Internet users will be able to search for, listen to, and download the songs free of charge from Sogou's website.