Major YouTube audio-ripping site agrees to shut down after getting sued by labels

According to TorrentFreak, a proposed final judgment has been reached between audio-ripping site YouTube-MP3.org and a collection of record labels including UMG, Sony Music, and Warner Bros. Although the document has not yet been signed by a judge, it indicates a decision in favor of the labels, with an undisclosed settlement fee and an order to transfer the domain to a party representing the labels.
YouTube-MP3.org allows people to convert YouTube links into downloadable MP3 audio files. The RI