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[Security]| Wednesday 24th January 2007 |
The site's founder, Jon Newton, had been forced to put the anti-DRM site up for sale, after his main sources of revenues gradually withdrew their advertising and financial backing.
However, in addition to his mystery backer, Newton has also secured technical backup and a hosting service that will enable him to relaunch the site within a matter of weeks.
Newton did not reveal details of the rescue package, at the request of his new backer. 'I'll be working
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The site will now be redesigned, with content restructured to make it easier to sell advertising space.
However, the site may struggle to attract fresh advertisers following heavy pressure from the music industry. 'Early in the year, the Big 4 Organized Music gang [Newton's name for the major record companies] turned on LimeWire, one of my advertisers,' Newton said last week. 'LimeWire pulled their booking, and then it was BearShare's turn. Two down, and I was in deep trouble. Again, I had to borrow money to stay online.'
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