The FT reported in March the details of the Universal-Bolt.com settlement:

"Under the terms of the deal, Universal agreed to drop a lawsuit against Bolt that it filed in October.

In return, the music company will take a multimillion-dollar share of the proceeds of Bolt’s recent sale to another site, GoFish, as damages for past copyright infringement, according to people familiar with the settlement.

Universal will also receivea small licensing fee each time one of its songs is played on GoFish in the future, as well as a share of associated advertising revenue.

GoFish will implement filtering technology on Bolt within 60 days, which will allow Universal to easily determine when its materials have been posted on the site."

It seems that this is the first major fallout of the YouTube copyright controversies that surfaced once Google acquired YouTube. While Google has the resources to fight the big media companies, a small company like Bolt.com does not. More on this as the story develops.