The reason why the big record companies did not sue YouTube too emerged today. This is after Grouper and Bolt! got sued last week…Universal Music Group, Warner Music Group and Sony BMG all signed deals with GooTube (on the day of the deal) to take a share in the newly formed company. With the expected rise in the market value of the company, the record companies have already earned an estimated $50 million on their share…
This comes as a real surprise to us (or does it really???), since the big record companies are not known to be very friendly with other people (read: Napster). But what the heck, now at least we know what’s going on as well…
