Bid farewell to this generation's wallet saver for music (and movies and software!). A federal judge in the United States of America, on Tuesday had ruled for the shutting down of the digital file sharing service after finding it liable for copyright infringement. Statements in the ruling included that Limewire had cost record companies hundreds of millions of dollars in revenue losses and that record companies “have suffered”. The ruling was passed in favour of the Recording Industry Association of America (RIAA) which represented the record companies.
Limewire will still be allowed to test a service which allowsusers to buy music legally from independent recording labels while negotiation deals with mainstream labels to make a full-fledged (and legal) comeback.
SOURCE: Wall Street Journal