Gainesville, Fla. - Escape Media Group on Thursday introduced Grooveshark, a new peer-to-peer music sharing service the company says will compensate both copyright holders and members who participate in the community. Founded by 20-year-old Escape Media Group CEO Sam Tarantino, Grooveshark is expected to begin beta testing during the first quarter of 2007. The service will offer songs in the unprotected MP3 format for no more than 99 cents, and pay royalties to copyright holders -- although no licensing deals were announced. The company will also reward users who participate in the community by uploading songs, fixing song tags, flagging unwanted files or reviewing music with free downloads from Grooveshark.

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http://biz.yahoo.com/prnews/070109/latu030.html?.v=84
http://www.escapemg.com
http://www.grooveshark.com