Friday, November 10, 2006

Google denies rumor of YouTube legal reserve

CNET "Google CEO Eric Schmidt denied a widely circulated rumor that his company had set aside $500 million to settle copyright claims by media companies as part of its deal to acquire video-sharing site YouTube.
Speaking to more than 500 Internet industry insiders at the Web 2.0 Summit, Schmidt said Tuesday that an anonymous blog post asserting that YouTube has reserved $500 million for legal claims, out of the $1.65 billion takeover price, was 'not true.'"

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