Kazaa, one of the world's best known file-sharing networks and a once-popular source of illicit downloads, has reached a legal settlement with the world's four major music companies--Unverisal Music, Sony BMG, EMI Group PLC (EMIPF.PK)and Warner Music Group Inc. (WMG)--agreeing to pay more than $100 million as well as commiting to becoming legitimate.
This WashingtonPost.com article goes on to state:
The music industry has pursued an aggressive legal strategy in its attempts to curb Internet piracy, filing lawsuits against file-sharing companies like Kazaa and Grokster, as well as individual users who uploaded copyrighted material. Their efforts were bolstered last year when the U.S Supreme Court ruled that content companies can file lawsuits against technology firms that encourage copyright infringement.
Meanwhile, legitimate music services like Apple's iTunes have become wildly popular, offering legal alternatives to illicit file-sharing.
Know More about the entertainment industry at BizOfShowBiz.com.
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