BearShare is the latest file sharing network to collapse under RIAA pressure, BearShare has been ordered to pay $30 million dollars to avoid potential copyright infringement lawsuits from the recording industry. Free Peers Inc., which distributed the BearShare software, also agreed to cease as a business and not operate any unlicensed online music services.
As part of the settlement, Free Peers agreed to sell all technology, BearShare.com and data on users of the software to subsidiary of iMesh Inc., which closed its file swapping doors in 2004.
Since the high court’s decision, 7 file sharing networks have been forced offline. But many p2p’ers believe that the court’s decision will have little impact on the file sharing scene.
One Zeropaid.com member had to say this about the announcement; “30 million is a lot of money, but honestly, BearShare was a dieing client, they needed to move on. I guess they waited to long.”
I would assume that iMesh inc will rebrand themselves as BearShare and hope to migrate the users to a pay model. It is still unknown how much the deal was worth.