After seven years, Viacom and YouTube have settled a long-standing copyrights violation battle out of court, reports the New York Times. Though neither side has revealed terms of the settlement, it is reported that no money has exchanged hands.
The lawsuit was initiated two years after YouTube’s creation, when Viacom lodged a complaint that shows including SpongeBob SquarePants and The Daily Show with Jon Stewart were broadcast on YouTube without permission. Viacom sought $1 billion in damages in the complaint.
The agreement comes just before the two companies were to return to court and echoes the adapted landscape concerning allegations of copyright violations on the Web.
The joint statement by Viacom and Google included the comment, “This settlement reflects the growing collaborative dialogue between our two companies on important opportunities, and we look forward to working more closely together.”
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