Google Sued for $1 BILLION

Google, the new owner of the hugely popular video service YouTube saw a threat of impending legal action this week from Media Giant Viacom (owner of MTV and Nickelodeon to name but two).

Viacom claims that YouTube is displaying copyrighted material without permission and that over 160,000 clips on the YouTube site are there illegally. As well as legal damages Viacom is hoping for an injunction to prevent further addition of copyrighted material to Google's YouTube pages.

A Viacom spokesperson said: "There is no question that YouTube and Google are continuing to take the fruit of our efforts without permission and destroying enormous value in the process"

When questioned about the lawsuit a Google spokesperson commented: "We have not received the lawsuit but are confident that YouTube has respected the legal rights of copyright holders and believe the courts will agree."

Time will tell if the lawsuit will ever get to court or whether a settlement will be reached between the two media giants, however Google's share price did fall by over 2% this week off the back of this news.

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