eldavojohn writes "Wired brings you a short look into the bankruptcy filings of Playlist.com. It comes down to 'Playlist owes $24,360,440 to the major labels and $1.68 million to indie powerhouse Merlin, while its Limelight bandwidth bill is $803,470.' And these were hard won licensing agreements made with the labels back in May of this year. Unsurprisingly, RIAA member UMG wants this bankruptcy filing to be denied."
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