LimeWire Settles For $105 Million 167
eldavojohn writes "LimeWire has settled its suit with the RIAA for $105 million. It's several orders of magnitude lower than the $1.5 trillion initially demanded by the RIAA, but it ends a nearly five-year legal battle. P2P networks take heed; the monster may start looking for other targets."
Re:Does anybody actually buy music anymore? (Score:4, Informative)
Yes. Have you heard about this new service called "iTunes"? I hear Apple thinks it'll be successful in a few years.
Gorton, the Owner, Is Allegedly Worth More (Score:5, Informative)
During his damages hearing last week, RIAA lawyers suggested his net worth was larger than that. They noted he possessed $100 million in an IRA account. His Manhattan home is worth more than $4 million. In addition to Lime Wire, Gorton operates a hedge fund and a medical-software company. Gorton's lawyers claimed in court that he made little money from Lime Wire. Maybe, but records show the privately owned company generated $26 million in revenue in 2006 and sales climbed dramatically after that. During most of Lime Wire's 10-year history, Gorton was chairman, CEO, and only board member.
Disclaimer: I'm the submitter so I'm probably the only person that read the article which gives me an unfair advantage.
Re:If they can win hundred million buck settlement (Score:5, Informative)
http://en.wikipedia.org/wiki/Limewire#Criticism [wikipedia.org]
Re:Does anybody actually buy music anymore? (Score:4, Informative)
Re:Does anybody actually buy music anymore? (Score:4, Informative)
it's so easily duplicated,
it's not a precious resource (there are decades of music, that the RIAA is obscuring)
it's easily created from scratch
You're saying some arbitrary imaginary dopamine rush needs to be protected with the same vigor as a piece of food that can actually feed and sustain life... oh wait, "stealing" music will get you MORE trouble then *actually* stealing food.
pure ego, man, pure ego. GO TEAM FOSS.