Another file sharing site….goes legit. Bloomberg Boot Camp, a report on today's technology. BitTorrent has been a popular peer to peer file sharing application used by millions for years. And while the software is still being used by many to swap movies and TV shows….the company behind it…has forged agreements with some of the biggest media companies….and is now in the legal video downloading business. Co-founder and president Ashwin Navin…

"We've announced nearing forty partners, including major studios like Warner Bros., Twentieth Century Fox, MGM, Paramount…some major television entities like MTV and all the MTV brands including VH1, Nickelodeon and Comedy Central and the Comcast television brand of G4, which is a gaming and tech network. In total almost forty companies have published their TV, movies, music on BitTorrent.com so that our audience has a legal destination to go and enjoy that."

Over five thousand titles are available …all protected by DRM or digital rights management software…

"Movies are available on a rental basis, a 24 hour rental basis for 2.99 and 3.99. TV shows are available on a purchase basis, so once you buy them they're yours forever, for 1.99 an episode. But there's also, and this is the most important thing for our user base, a huge number of free titles available."

BitTorrent co-founder Ashwin Navin. Bloomberg Boot Camp, I'm Fred Fishkin.