LimeWire, majors settle

ON THE ROCKS, BUT HOLD THE LIME: LimeWire and the Big Four reached a $105 million out-of-court settlement yesterday in New York (see 5/12 item below). That figure represents a major hit to the back account of Mark Gorton, founder and heard of the infamous P2P, but it’s a helluva lot less than the maximum penalty of $1.4 billion. Said RIAA chief Mitch Bainwol, "The resolution of this case is another milestone in the continuing evolution of online music to a legitimate marketplace that appropriately rewards creators." Yes, he really talks like that. (5/13a)