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LimeWire reaches $105 million settlement with record labels

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It's been a long, slow demise for the once mighty file sharing service, but LimeWire has now taken one last big step towards being a footnote in internet history. The company reached an out of court settlement with the major record labels yesterday, which will see it and its founder, Mark Gorton, fork over $105 million to finally put an end to its longstanding dispute with the RIAA. In a statement, the RIAA said that the settlement was "another milestone in the continuing evolution of online music to a legitimate marketplace that appropriately rewards creators," while LimeWire's attorney said simply that he was "pleased that this case has concluded." You'll note, of course, that the RIAA said "another" milestone -- it's obviously still hoping for plenty more settlements or legal victories where this one came from.

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