Please respond to SchwabAlerts.MarketUpdatesCharles Schwab & Co., Inc.

           Internet Daily for Tuesday, July 24, 2001
             by Frank Barnako CBS MarketWatch.com

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Napster taps Bertelsmann exec as CEO

Konrad Hilbers, former executive at Bertelsmann AG's music
division, has been named chief executive of Napster Inc.,
replacing interim CEO Hank Barry. "Konrad's extensive experience
in the technology sector and the music business, in both the
United States and Europe, makes him uniquely qualified to lead
Napster into the future,'' said Barry, who held the CEO slot for
13 months. In a statement, Hilbers said he looks forward to
challenges at Napster. "The next step is to complete the task of
transforming this phenomenon into a business that respects
copyrights and rewards creators," he said.

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Disney seeks control of online promos

Access to movie trailers online will be less available if the
Walt Disney Co. has its way. The promos are used by many Web
sites to promote video sales and rentals. Disney's Buena Vista
Home Entertainment division is seeking an injunction against
Video Pipeline for making the trailers available on the
Internet. Disney is asking for damages of $111 million. Disney
and Video Pipeline have worked together for years distributing
trailers to video retail stores. The promotion service claims it
has rights under the fair use provision of copyright law, but
Disney disagrees. "They (Disney) want to have total control
because they want to compete with retail," Video Pipeline
President Jed Horovitz said. Buena Vista said, "Video Pipeline
is before the court because it knowingly took our copyrighted
materials and infringed on them by making unauthorized movie
trailers."

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AOL to begin IM tests this summer

AOL Time Warner is finalizing the technology it needs to test
extending access to its Instant Messaging features from other
online services. In a report to the Federal Communications
Commission, AOL said it's negotiating with a potential partner
over performance, cost sharing, privacy and security policies,
Reuters reported. "Upon successful completion of these tasks,
AOL then plans to finalize its gateway, install updated code on
its production servers and begin developing a finished client
that supports interoperability,'' the report said.

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