THE EMPIRE STRIKES BACK: Feds Take Down Megaupload; Swizz Beatz Apparently CEO

NEW YORK TIMES: Federal prosecutors in Virginia say they have shut down one of the world’s largest Internet file-sharing sites,, and charged its founder and others with violating piracy laws. An indictment accuses the company of costing copyright holders more than $500 million in lost revenue from pirated films and other content. The indictment was unsealed Thursday [and] says that at one point, Megaupload was the 13th most popular Web site in the world. MORE RELATED: Spearheaded by CEO Swizz Beatz, Megaupload has issued a counter lawsuit against Universal Music Group to stop the record label from interfering with […]