LimeWire, a filesharing network, has consorted to pay recording labels $105 million, which will escort to a close a five year legal battle over illegitimate downloading on copyrighted stuff.
The company conciliated the deal with the 13 impacted record labels out of court. All four of the major labels, Sony Music, Warner, Universal Music and EMI, were included in the settlement. The labels said that the site was responsible for losing a total of $1 billion in music sales gross.
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