IsoHunt, one of the world’s largest torrent websites, is to close its online doors in the very near future following an agreement between its founder and the Motion Picture Association of America.
Although the site does not host the files itself, it is held accountable for directing millions of users around the world to these downloads – a catalogue of links to illegal file downloads, if you will.
Founder Gary Fung started the website some 10 years ago as a by-product of his love for coding and programming. Little did he know that the site would go on to become one of the go-to places to download millions of movies, records and other files. The site quickly gained notoriety for being one of the biggest sites where a user could freely and illegally obtain movies and other copyrighted material and naturally, became embroiled in numerous lawsuits and court cases with the owners of said material.
An agreement has finally been reached between Fung and the MPAA whereby IsoHunt will shut down and become no longer available and Fung will pay out $110 million (£68m) to the association, which consists of major film studios including Disney, Twentieth Century Fox, Paramount and others.
Of IsoHunt’s near 11 year existence, 7 of those years have seen it locked in a court case with the MPAA. Although the settlement states $110 million will be given to the MPAA, court documents note that the company is unlikely to be able to generate such funds – $2-4 million is said to be more likely.
Although torrent sites like IsoHunt have undoubtedly accounted for potential profits lost by film studios and record labels, the closure of the site is much more valuable than the monetary pay out. MPAA chairman Chris Dodd noted that the end of IsoHunt would be a “major step forward” for online media sales.
“I have fought the good fight, I have finished the race and I have remained faithful. 10.5 years of IsoHunt has been a long journey by any business definition and forever in internet start-up time” said Fung.
“It started as a programming hobby in my university days that has become so, so much more.”
A date for the site’s closure has not yet been given.