Viacom Inc. (NASDAQ: VIAB, VIA), the parent company of Nickelodeon, the number-one entertainment brand for kids and families, and Google (NASDAQ:GOOG) today, Tuesday 18th March 2014, jointly announced in the following press release, from Business Wire, the resolution of the "Viacom vs. YouTube" copyright litigation!
In connection with the resolution of the litigation, the companies issued the following statement: "Google and Viacom today jointly announced the resolution of the Viacom vs. YouTube copyright litigation. This settlement reflects the growing collaborative dialogue between our two companies on important opportunities, and we look forward to working more closely together."
The terms of the settlement were not disclosed. However, Google is not paying Viacom any money under the deal, according to sources familiar with the settlement, reports Variety.
Viacom sued YouTube for US$1 billion in 2007, shortly after Google acquired YouTube for US$1.65 billion in 2006. During the lawsuit, the companies have reached business agreements, including a deal in which Viacom participates in the YouTube Content ID program to scan for copyrighted material uploaded to the service. Paramount also started to license films to YouTube available for rent in 2012.
Viacom alleged that the video service had engaged in "massive intentional copyright infringement of Viacom's entertainment properties". According to Viacom, nearly 160,000 clips of Viacom programming — including clips from shows such as "The Daily Show with Jon Stewart" and "South Park" - were available on YouTube without permission, and that those clips had been viewed more than 1.5 billion times.
In court documents, Viacom argued that YouTube essentially built its business on infringing videos, and the media company produced e-mails in which some of the site's founders discuss the prevalence of copyrighted videos uploaded by users and their propensity to generate more traffic.
Original Viacom Press Release:
Viacom and Google Resolve Copyright Lawsuit
MOUNTAIN VIEW, Calif. & NEW YORK -- (BUSINESS WIRE) -- Google (NASDAQ:GOOG) and Viacom (NASDAQ:VIAB, VIA) today jointly announced the resolution of the Viacom vs. YouTube copyright litigation. The terms of the settlement were not disclosed.
In connection with the resolution of the litigation, the companies issued the following statement:
"Google and Viacom today jointly announced the resolution of the Viacom vs. YouTube copyright litigation. This settlement reflects the growing collaborative dialogue between our two companies on important opportunities, and we look forward to working more closely together."
Contacts
Viacom
Jeremy Zweig, 212-846-7503
Vice President, Corporate Communications and Corporate Affairs
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or
Google
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