In a statement made by the Recording Industry Association of America last Thursday, multiple record labels settled their copyright lawsuit against LimeWire and its founder, Mark Gorton out of court for $105 million.
Record labels involved in the suit include Arista, Atlantic, BMG Music, Capital, Elektra, Interscope, Laface, Motown, Priority, Sony, Universal, Virgin and Warner Brothers. In March, LimeWire settled with music publishers that had sued it.
Despite the settlement, problems with the music industry’s poor work model and its unwillingness to embrace Internet radio still exists. Unless they can make it more convenient for broadcasters to operate and allow it to develop obscure music talent, it’s gonna be a rough road.