RIAA: Goodbye BearShare, Hello $30M

Online file-sharing service BearShare, along with operators Free Peers Inc., is packing it up due to a $30 million settlement with the recording industry. The conditions of the settlement were agreed to by the P2P company to avoid further copyright infringement litigation.

BearShare was among several P2P service to receive cease-and-desist letters from the RIAA in September of last year. Others include Warez P2P, Limewire, eDonkey, and Soulseek, all of whom have not yet reached a settlement.