Rock and roll legend Paul McCartney is throwing his considerable professional muscle, and a little money as well, behind the notion that the free trade of MP3 formatted music must be stopped. According to an InternetNews article, the ex-Beatle has given Magex and undisclosed amount of money to help fund their pay-per-play project.
Magex, originally conceived and designed to work in the British/European market, is currently being restructured for use in the United States. According to the InternetNews article:
Sir Paul McCartney has been one of the music industryis most outspoken critics of all forms of copyright infringement. His backing of Magex places him firmly in the camp of those opposed to the free exchange of music on the Internet.
Magex, a project originally conceived at the U.Kis NatWest Bank, is currently being restructured to address the U.S. market.
Earlier this week, Magex appointed W. Patrick Campbell as chairman and chief executive. Significantly, Campbell will be based in New York at the companyis new headquarters, from which he will orchestrate the introduction of Magex technology to the U.S. music, film and media industries.
Magex believes its technology solves the security and payment problems surrounding digital distribution, enabling music and videos to be sold on the Web in fast, safe and easy transactions.
You can find more information about the company and their technology at the Magex web site.