Under the proposed deal, Radiohead would license the album, “In Rainbows,” for a specified period of time but retain ownership of the recording.
Take that "360 degree" deal! A band, retaining its copyright ownership in its work? What? What?! What?!?
Of course, it appears that the Licensee will be a traditional label, so not much new in terms of distribution and earning revenue off traditional products like CDs and mp3s. The #1 candidate on the radar right now for a US licensee is ATO Records, and though not a "major" US label, ATO certainly has its share of high-profile artists (e.g., David Gray, Ben Kweller).