A statement on the Grokster website said that a legal music download service is planned for the future.
"It was more a question of when, rather than if, Grokster would reach some kind of settlement with the RIAA," said Jonathan Arber, research analyst at Ovum's Consumer Telecoms practice.
"Now that it has settled, it seems likely that Morpheus and the few other holdouts will be close behind, rather than face the expense of further legal wrangling from which they are likely to emerge the losers.
"The music industry will certainly be keen to put an end to the past few years' litigation, and send a message to users that getting something for nothing is no longer possible."
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