LimeWire, a filesharing network, has agreed to pay record companies $105 million, which will bring to a close a five year legal battle over unlawful downloading on copyrighted material.
The company settled the deal with the 13 affected record labels out of court.
All four of the major labels, Sony Music, Warner, Universal Music and EMI, were included in the settlement.
The labels said that the site was responsible for losing a total of $1 billion in music sales revenue.
"We are pleased to have reached a large monetary settlement following the court's finding that both LimeWire and its founder Mark Gorton personally liable for copyright infringement," said Recording Industry Association of America chairman and chief executive Mitch Bainwol.
"The significant settlement underscores the Supreme Court's unanimous ruling in the Grokster case - designing and operating services to profit from the theft of the world's greatest music comes with a stiff price."
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