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Friday, November 03, 2006

Google Running Around with $10 Million Bags of Cash


The Financial Times is reporting that Google is offering tens of millions to media companies in an effort to stem the coming wave of copyright infringement lawsuits targeted at YouTube. You might remember that back when YouTube was acquired by Google, Warner Music, Universal Music, and Sony BMG signed agreements with YouTube to supply content in exchange for equity stakes.

Now, having brought the music companies into the fold, Google CEO Eric Schmidt is trying to convince the television and film companies to allow YouTube to broadcast their content. While the report makes it out to be life or death, the likely outcome is a big payout to the media companies after a few more lawsuits, but in the end, YouTube will survive.

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