He stated that declining revenues resulted from the rise of P2P and this caused both the company's staff and roster to be cut.

Bloomberg reports that Bronfman had hoped the 2005 Supreme Court ruling against Grokster would see LimeWire shut down voluntarily rather than remain active.

"When LimeWire kept operating it frustrated me greatly," he is quoted as telling jourors. "It was devastating, frankly."

LimeWire's legal team has countered that during this time of cutbacks, major label executives were paid ...