Universal Music Group has settled its copyright infringement lawsuit against teen social networking site Bolt out of court. Under the agreement, Bolt will pay UMG damages in the "multi-million dollar" range for past infringement, against a percentage of the value of the company. Bolt also has agreed to add filtering technologies to its service in the next two months to prevent further unauthorized use of UMG material.

In October, UMG sued Bolt and video sharing site Grouper for hosting copyrighted music videos.

In related news, GoFish -- the company that acquired Bolt for $30 million as a means of funding the settlement -- has licensed Audible Magic's content management and filtering technology. GoFish said it would use the technology to identify when copyrighted material is used on its sites, and either block the content or provide compensation to its partner labels.