File-sharing service Grokster shuttered its Web site and stopped distributing its software, to settle a copyright infringement lawsuit brought by entertainment industry companies. The settlement comes
four months after the U.S. Supreme Court ruled that encouraging piracy online can subject a company to liability. Grokster also agreed to pay $50 million in damages. The company is likely to be
acquired by Mashboxx, an upcoming file-sharing service, according to published reports in
The Wall Street Journal and the Associated Press.
--Wendy Davis
