Infinite Reality, a digital media and e-commerce company, has been on a buying spree in the last 18 months, spending over $1 billion on acquisitions.
Multiple labels and distributors say they're owed money by the streaming service.
Two decades ago, the business endured huge layoffs amid a painful period of sales decline. This time, experts say the industry’s cyclical nature is more to blame.
"There has been a stunning reversal in progress in the war to limit consumer access to unlicensed music," says researcher Russ Crupnick.
The terms of the deal, which ended litigation over unpaid royalties, would “make the average person shake her head in disbelief.”
