Looks like Wednesday’s massive Internet protest against the Hollywood-supported anti-piracy legislation worked. Senate Majority Leader Harry Reid said this morning that “in light of recent events” he’s calling off the planned Tuesday vote for the Protect IP Act — which would give government officials the power to block overseas sites that traffic in pirated content. Shortly afterward, House Judiciary Committee Chairman Lamar Smith said he will  ”postpone consideration” of a similar bill — the Stop Online Piracy Act –  “until there is wider agreement on a solution.” Both lawmakers claim the issue isn’t dead: Reid says that he’s “optimistic that we can reach a compromise in the coming weeks.” New York Sen. Chuck Schumer tweets: “You’ve been heard. [The Protect IP Act] has been pulled so we can find a better solution.” But the general feeling is that supporters of the legislation will have a hard time getting the bills back on track — and certainly not with the enforcement muscle that Hollywood wants. Here’s Reid’s statement:

“In light of recent events, I have decided to postpone Tuesday’s vote on the PROTECT I.P. Act.

“There is no reason that the legitimate issues raised by many about this bill cannot be resolved. Counterfeiting and piracy cost the American economy billions of dollars and thousands of jobs each year, with the movie industry alone supporting over 2.2 million jobs. We must take action to stop these illegal practices. We live in a country where people rightfully expect to be fairly compensated for a day’s work, whether that person is a miner in the high desert of Nevada, an independent band in New York City, or a union worker on the back lots of a California movie studio.

“I admire the work that Chairman Leahy has put into this bill. I encourage him to continue engaging with all stakeholders to forge a balance between protecting Americans’ intellectual property, and maintaining openness and innovation on the internet. We made good progress through the discussions we’ve held in recent days, and I am optimistic that we can reach a compromise in the coming weeks.”

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