New York – Lawyers for the major record labels have held at
least three discussions with representatives from LimeWire — the file-sharing
service found guilty of copyright infringement — to discuss a potential
financial settlement that would potentially replace a jury award in LimeWire’s current separate
trial on damages, The Wall Street Journal reported.

The most recent talks were
reportedly held on Wednesday, also the third day of court proceedings in the
trial set to determine the damages to be paid by LimeWire and founder Mark
Gorton — which could reach $1.4 billion.

CNET provided coverage of the
courtroom proceedings on Thursday, which included testimony from Edgar
Bronfman, Jr., the billionaire head of major label Warner Music Group.



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