Shawn Fanning Is Back Into Digital Music

prostoalex writes "News.com has a lengthy 3-page article on Shawn Fanning's new venture, Snocap. After years of development the company is coming out of the stealth mode and has apparently already secured a distribution deal with Universal Music, promising to turn file-sharers into loyal paying customers overnight. Both News.com and Associated Press are skimpy on the details, but apparently Snocap will market the technology that will (a) sniff out the files shared illegally and (b) fill the peer-to-peer networks with licensed content and serve as a clearing house for the ventures who want to license digital music, but don't want to deal with gazillion of music labels." (We mentioned Snocap last in January.)