Universal Music in licensing pact with Streamwaves

LOS ANGELES, June 10 (Reuters) - Universal Music, the world's largest music company, said it licensed its music catalog to Dallas-based Streamwaves' subscription

LOS ANGELES, June 10 (Reuters) - Universal Music, theworld's largest music company, said it licensed its musiccatalog to Dallas-based Streamwaves' subscription service.

Under terms of the agreement, Universal will license itscatalog of titles to be streamed on-demand to U.S. subscribersto Streamwaves music subscription service.

The service is set to officially launch in the summer of2002, allowing subscribers to stream an unlimited number oftracks on demand from any Web-enabled device as well as certainportable devices.

Streamwavies also holds licensing agreements with EMI GroupPlc . Universal Music is a unit of Vivendi Universal.

Universal has also made its songs available to Pressplay, anew online music service it jointly owns with Sony Corp<6758.T>.

The Justice Department has launched a probe into the slowpace at which the major labels have licensed their catalogs toindependent online music services, particularly as theystruggle to find a viable alternative to free unauthorizedservices such as Napster and Napster-clones.