LimeWire, major record labels settle for $105M

May 13, 2011

(AP) -- File-sharing software company LimeWire, which shut down last year after being barred from allowing people to share copyright-protected files online, reached a $105 million out-of-court settlement with the major record labels Thursday, the labels said.

In a statement, Chairman Mitch Bainwol said his group, which represents the labels, is pleased with the settlement.

"The resolution of this case is another milestone in the continuing evolution of online music to a legitimate marketplace that appropriately rewards creators," he later added.

LimeWire, which had enabled people to share songs and other files over the Internet, had been fighting the RIAA for several years.

The RIAA argued LimeWire's software encouraged illegal sharing of copyrighted music. Last May LimeWire was found liable of , with a trial to follow early this year. That trial started last week.

In October, LimeWire received a federal injunction forcing it to disable key functions of its software. At that time, the company said it would continue developing a new service that would include a desktop player, and a catalog of music from which people could legally stream and download songs.

But in December, Lime Group said it would shut down completely due to its legal situation.

Explore further: Uber says outside review shows customer data safe, private

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Recommended for you

Airbnb to expand tax collection efforts

Jan 30, 2015

Online lodging operator Airbnb is expanding its efforts to collect local taxes, responding to complaints that it competes unfairly with the hotel sector.

Jay Z to acquire Wimp music service

Jan 30, 2015

US rap star Jay Z will make a $56-million foray into the music streaming business by taking over the Norwegian service Wimp, its shareholders confirmed Friday.

How can Google snap its stock out of its stupor?

Jan 30, 2015

Google has turned into a stock market laggard as the shift to mobile devices has lowered the Internet search leader's digital ad prices and the company's expensive investments in far-out technology has trimmed ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.