Reuters' Sue Zeidler reports La la Media opens its doors. This is a CD trading site. Users pay La la Media $1 for facilitating + $.5 for shipping, of which 20% goes to the recording artists.
The company got $9m funding from Bain and Ignition.
This looks like a lot of things. Netflix (DVD rental), Peerflix (DVD trading), and even FON, the WiFi sharing initiative. It's all about sharing. As long as you can legally classify people as your friend, fair use covers many things.
Also, see Cringely's latest columns on P2P for media distribution.