Tuesday, October 17, 2006

Media Giants Look To Sue YOUTUBE.COM

(From Cynopsis)

Among the list of media giants who are potentially looking to sue YOUTUBE.COM for the unauthorized used of their material include NBC UNIVERSAL, VIACOM and NEWS CORP.

Those are all pretty big dudes with pretty deep pockets to have ticked off at you.

The legal eagles at each of these outfits have uniformly decided that a copyright penalty of $150,000 per each unauthorized video sounds about right, according to a story in THE WALL STREET JOURNAL.

Meanwhile, others argue YOUTUBE.COM is protected under THE DIGITAL MILLENNIUM COPYRIGHT ACT OF 1998 that basically says they have to take down a video upon receiving notice from the copyright holder.

While these legal conversations are continuing, each of the three are also having their own content chats with the folks at YOUTUBE.COM about running their programming in exchange for a piece of the revenue pie, and some have already been successful in arriving at terms -- CBS, NBC Universal and several music companies.

YOUTUBE.COM is in the process of being purchased by GOOGLE for the amazing amount of $1.65 billion dollars.

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