NY court reinstates antitrust lawsuit against record labels

A New York federal court reinstated an antitrust lawsuit that accuses major record labels of fixing prices and terms for music to be sold over the Internet, Reuters reports. The plaintiffs said that they entered into joint ventures and licensing that, in effect, created artificial price floors for downloaded music and wholesale prices of 70 cents per song when competitor’s distributed their music. Circuit Judge Robert Katzmann, one of three judges on the panel, said, “Some form of agreement among defendants would have been needed to render the enterprises profitable.”