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Industry News: SOPA Crashes and Burns, IP Arrest, Penguin Makes Out

January 21, 2012
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SOPA Crashes and Burns, for Now

Maybe President Obama and Marco Rubio were frustrated because they couldn’t use Wikipedia on Wednesday. Or maybe it was the outpouring of opposition to the Stop Online Piracy Act (SOPA) and its companion bills in the Senate. Google, Wikipedia, and many other sites were partially or totally blacked out to protest the bill. Powerful Republican Congressman Daniel Issa of California has indicated that the House Bill will not make it to the floor for a vote. Although no such statement has come forward about the Senate companion, the Protect Intellectual Property Act (sometimes referred to as ProIP or PIPA), Florida’s Marco Rubio is one of four co-sponsors who have withdrawn support for the bill. And the Obama administration has announced it will not support the bills. That having been said, many are still concerned the SOPA will rise like Spock in the non-bootlegged version of Star Trek III I watched last year. Lamar Smith, the bill’s primary sponsor, has vowed to recast the bill and to “find ways to combat online piracy.” Depending on what the next version of the bill contains, there are worse outcomes. Note: The pinheads in Washington, our elected officials waited until after I wrote this to withdraw the bills. Pinheads. If they craft a better bill, this will be interesting because the coalition in opposition won’t be there, as it was this time. 

Megaupload shut down; found and employees charged

Meanwhile the Justice Department has shut down the file-sharing site Megaupload and indicted its founder and six others with five counts of copyright infringement and conspiracy. Megaupload is a “locker” site which allows people to store and transfer large files. Many of those large files are movies, television shows, books, computer games, and other software. The Justice Department estimates that nearly half a billion dollars of what it calls “estimated harm” has occurred because of the site. Two other similar sites, Rapidshare and Mediafire were unaffected. As part of the action, the government also seized $50 million in assets and 18 domain names. For a copy of the indictment, click here.

The holidays were good for Penguin

Pearson, the British publisher that owns Penguin books, has raised it 2011 earnings guidance, estimating a 10% increase in adjusted earnings per share. Pearson said that rapid growth in digital products and investments in developing economies have fed the rise. Strong sales at the end of the year also fed the growth.

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One Comment
  1. ailfawka permalink
    August 11, 2012 6:51 am

    big pharmaceuticals strongly supported that bill apparently, thats a huge red flag for trouble. when big pharma supports anything you know its for a evil reason and death and decay will be sure to follow there wake.

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