Search king Google (www.google.com) is in a "frantic round of negotiations" with major media companies to settle potential copyright issues stemming from its acquisition of video-sharing site YouTube (www.youtube.com), Financial Times reported in Nov. 3 editions.
The U.K. newspaper said Google CEO Eric Schmidt and other executives met with several large content companies -- including CBS, Time Warner, NBC Universal, News Corp. and Viacom -- and offered millions of dollars in cash to license video content for YouTube.
The article, citing an anonymous source, said Google offered $100 million to one media company to license its content over a two-year period. Google representatives did not respond to a request for comment on the report.
Google announced plans to acquire YouTube for $1.65 billion Oct. 9 (www.multichannel.com/article/CA6379474.html). This week, at Viacom's request, YouTube removed video clips including those from Comedy Central's The Daily Show with Jon Stewart and SouthPark.
Google received antitrust clearance for the YouTube deal from the Federal Trade Commission Friday.
