Back when Google spent $1.65 billion to acquire video sharing site YouTube, folks in some quarters were wondering how wise a move that might have been. The only reason YouTube hadn’t been sued out of existence, the argument went, was that the company didn’t have any significant assets with which it could pay damages to media companies for the tens (hundreds?) of thousands of copyrighted clips users uploaded to the site.
But when Google took over, YouTube’s pockets went from empty to very, very deep. And today, media conglomerate Viacom has filed suit against YouTube and Google, seeking $1 billion in damages from “massive copyright infringement” perpetrated by the site.
