(December 21/07) Destiny Media Technologies (DSNY) disclosed Friday that it agreed to terms with a second of four major record labels for the digital distribution of content through the Play MPE system in Canada, the U.S. and Mexico.

The company said in a document filed with the Securities and Exchange Commission that the agreement was effective Nov. 1 and is in accordance with its standard transactional based pricing schedule.

Further details on this agreement will be provided by press release in early January, the filing said.

Shares of the software development company's stock traded Friday afternoon at 47 cents, off 2 cents.

-- Dow Jones Newswire