BearShare P2P Service Sold to iMesh; $30 Million Settlement With Music Labels

Free Peers, former operator of BearShare P2P service, has shut down its operations and sold its assets to a subsidiary of legal file-sharing service iMesh. This follows a settlement agreement with Free Peers and four music labels.
Free Peers, along with iMesh, reached a $30 million proposed judgment with Capital Records, Sony BMG, UMG Recordings and Warner Music Group.
Under the proposed judgment, which still must be approved by the courts, BearShare and the defendants will be prohibited from supporting or assisting any servers or websites in the unauthorized distribution of copyrighted material. The parties also agree to monitor and block access to their systems if users attempt to engage in such activity.

Comments have been disabled for this post