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Stories about YouTube and copyright infringement have been around for awhile, but really only started picking up steam after Google made the 1.65B plunge. I guess no one knew who to sue, so it was a wait and see game.
I wonder, did they factor in the potential legal costs into the purchase mind-set? Sure makes the valuation on this one go up now dont it?
I am certain to keep adding to this post, but heres a starter piece to get you caught up.
Media Titans Pressure YouTube Over Copyrights
In an apparent display of saber-rattling aimed at nudging video Web site YouTube Inc. into cutting favorable licensing deals, a number of major media companies have banded together to explore the legal implications of the video site's unauthorized use of copyright material, people familiar with the matter say.
The move comes just days after YouTube agreed to be acquired by Google Inc. for $1.65 billion. If the deal goes through, deep-pocketed Google could be held responsible for YouTube's legal liabilities. Complete Article
Continue to full story for more updates.....
update;
Now it seems that the folks at Time Warner are hoping in on the YouTube/Google cash grab. Wow... there are going to be some VERY rich lawyers..
Google faces copyright fight over YouTube
"Dick Parsons, the chairman and chief executive of Time Warner, fired a shot across the bows of Google, saying his group would pursue its copyright complaints against the video sharing site YouTube.com."
Or how about some damage control?
Interview: Eric Schmidt, Google CEO
Financial Times
"In an interview with Eric Schmidt, Google's CEO, post-YouTube, the British paper wanted to know how the company justified paying $1.65 billion for a company that had yet to earn a dime. Schmidt's answer: We have the best advertising system in the world--and soon, we'll be able to apply it to video, too. "The real reason," he added, "was not the money, and not even the advertising--it was because we believe that video is going to be, and is sort of already, one of the most important new media types on the Internet." "
Well I must say it is a very interesting Power Story. Anyone remember Napster?
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