To conclude a massive copyright infringement lawsuit launched by the major recording labels, Grooveshark shut down a few hours ago. Acknowledging mistakes had been made and apologizing profusely, the company said that it would delete all stored music and hand over its website and intellectual property to the RIAA. Owned and operated by Florida and New York based Escape Media, Grooveshark has been a fly in the recording industry’s ointment for almost a decade.
Founded in 2006, the company had an abrasive relationship with the world’s largest record labels, one that led it into legal conflict on a number of occasions. (Read Full Article Here)