Viacom, which lodged a high-profile $1B copyright infringement suit against YouTube in 2007, today announced an out-of-court settlement.
The entertainment combine and Google, YouTube owner since 2006, today issued a one-paragraph joint statement to official wind up the courtroom saga.
It follows: “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.”
When Viacom initially filed the suit, CNet considered the case called “the most significant legal challenge over intellectual-property rights to video sharing's No. 1 site.”
The suit alleged “massive intentional copyright infringement” as more than 150K unauthorized Viacom clips were found on YouTube.
It charged YouTube benefitted from the “value of creative content on a massive scale” without a payment or license.
New tracking systems have emerged during the past six years to allow copyright owners to track their output and demand that others either take down the material or negotiate a financial arrangement.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
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