No $500m YouTube legal reserve
p2pnet.net News:- Rumours that Google has stashed close to a third of the $1.65 billion buy price to cover potential copyright infringement suits incurred by YouTube aren’t true, says ceo Eric Schmidt.
Mark Cuban first introduced the rumour on his blog, saying he’d emailed the author, “who I respect and trust” for permission to post it, going on:
“I cant say this has been fact checked. It hasnt. I cant say its 100 pct accurate, I dont know. But it rings true, and as I said, I trust the source he had not verified the details, but that the rumor ‘rings true’ and he trusted the source.”
“The rumor was circulated around the Internet by blogs and picked up by technology industry publications Cnet and ZDNet and a top Google-watching site, Search Engine Watch,” says Reuters.
But Schmidt denied that “a very large sum of money was set aside to buy peace” between YouTube and big media companies says the story, adding, “We have visited as many media companies as we can” to reach copyright licensing deals, “that can insulate both YouTube and Google”.
Cuban picked the item up from a private list. It kicked off with, “I’m an experienced veteran in the digital media business and thought I’d share my version of events that happened at Youtube. Some of this is based on talks with people involved and some is speculation based on my experience working in the industry, negotiating settlements and battling in court.”
As another list member commented at the time, “It would be interesting to know which parts were fact and which parts are speculation.”
Also See:
blog – Some intimate details on the Google YouTube Deal, October 30, 2006
Reuters – Google CEO denies rumor of YouTube legal reserve, November 7, 2006
p2pnet newsfeeds for your site.
rss feed: http://p2pnet.net/p2p.rss
Mobile – http://p2pnet.net/index-wml.php
