Google Holds $200 Million For Possible YouTube Copyright Claims

Nov 16, 2006 | 148 views | by Navneet Kaushal
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Last week there were rumors of Google setting aside $500 million from YouTube sale as protection against possible copyright claims. These rumors were denied by Eric Schmidt, Google CEO during an appearance at an Internet conference. However, if reports by Associated Press are to be believed, the rumors are true.

"Google has set aside more than $200 million in its just-completed takeover of YouTube Inc. as a financial cushion to cover losses or possible legal bills for the frequent copyright violations on YouTube's video-sharing site. Without elaborating in a late Monday statement, Google said it is withholding 12.5 percent of the stock owed to YouTube for one year "to secure certain indemnification obligations."

4.thumbnail Google Holds $200 Million For Possible YouTube Copyright Claims

Navneet Kaushal

Navneet Kaushal is the founder and CEO of PageTraffic, an SEO Agency in India with offices in Chicago, Mumbai and London. A leading search strategist, Navneet helps clients maintain an edge in search engines and the online media. Navneet's expertise has established PageTraffic as one of the most awarded and successful search marketing agencies.
4.thumbnail Google Holds $200 Million For Possible YouTube Copyright Claims
4.thumbnail Google Holds $200 Million For Possible YouTube Copyright Claims