• Marketwatch, Tuesday, November 21, 2006 11:15 AM

The media loves irony. A day after the announcement of the News Corp.-Universal Music Group suit, it's worth remembering that Peter Chernin, president and COO of News Corp., stood before a Senate Committee in 2002 to proclaim his esteem for intellectual-property law.

Fast-forward to today. News Corp.'s MySpace charged with alleged illegal distribution of Universal Music Group's songs and videos. UMG seeks $150K per alleged violation, and cites more than 60 such instances. However, as recently as News Corp.'s Nov. 8 earnings announcement, Chernin reiterated News Corp.'s commitment to copyright protection.

The media giant cites the Digital Millennium Copyright Act, which excludes companies from being responsible for what users load on their site, as long as they take down protected material when asked. DMCA is beginning to look like a "Get out of Jail" free card, used by new-media companies.

Read the whole story at Marketwatch »