The Internet Archive has reached a settlement with a coalition of music publishers in a lawsuit concerning its Great 78 Project. The initiative aimed to preserve early music recordings captured on fragile shellac records. This legal battle had pitted the Internet Archive against some of the industry's major players, including UMG Recordings, Capitol Records, and…, Universal Music Group , Sony Music and other record labels told a California federal court on Monday that they have settled a copyright lawsuit against the nonprofit Internet Archive over its , The Internet Archive and the record labels have reached a settlement. Last year, the Archive lost an appeal in its ebook lending case, and now it has settled the lawsuit over its Great 78 Project:, As noted in the recent court filings in UMG Recordings, Inc. v. Internet Archive, both parties have advised the Court that the matter has been settled. The parties have reached a confidential resolution of all claims and will have no further public comment on this matter., The lawsuit nearly bankrupted the Internet Archive, which works to digitize three million records and help historians document the history of recorded music. Record labels initially sued it for up to $400 million in damages, alleging that users accessing the Project 78 recordings led to a drop in streaming., .