In June, SPIN.com reported on the Supreme Court ruling against Grokster and Streamcast, two peer-to-peer file sharing networks (read more). More than four months after this devastating decision, Grokster has agreed to shut down its network. According to the AP, the settlement forced Grokster to stop giving away their file sharing software for free in an effort to halt the theft of copyrighted material. The ruling is likely to set a precedent in favor of recording companies in lawsuits to come. On Grokster’s website, a sobering message is posted: “There are legal services for downloading music and movies,” Grokster.com declares. “This service is not one of them.”
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