Thursday, October 19, 2006

Music Industry Holds Stake in YouTube

For those who thought Google was going to be sued left and right after buying YouTube for a gazillion dollars recently, the NY Times breaks the story today of how three of the four major entertainment cartels not only struck distribution deals with YouTube, they took a partial ownership stake, and stand to collectively benefit to the tune of $50 million.

Google isn't stupid and obviously had their asses covered before making the huge purchase. Those brilliant bastards.