Limewire pays $105m settlement to music firms

File-sharing software company Limewire has reached an out of court settlement with record labels that sued it for helping people pirate music.

The Lime Group, which developed the Limewire system, has agreed to pay $105m (64.6m pounds) to 13 music firms.

The figure is far less than the billion dollar bill for damages that the Recording Industry Association of America (RIAA) claimed it was owed.

The prolonged legal fight has led to Limewire being shut down.

Mitch Bainwol, chairman of the RIAA - which represents record labels - said the organisation was pleased with the result.

"This hard fought victory is reason for celebration by the entire music community, its fans and the legal services that play by the rules," said Mr Bainwol in a statement.

Limewire was a program that used peer-to-peer technology to help people find media on other computers and let others see their libraries of files.

:story: Full story: BBC News