Viacom is suing Youtube for $1 billion due to copyright infringement and Google's inability to patrol both Youtube and Google Video.
Copyright infringement on Youtube? That's ridiculous. By the way, here's a link 1,070 resuts for Comedy Central videos on Youtube. They're pretty funny.
"Big Media took its first big swing at YouTube Tuesday as Viacom Inc., the owner of MTV, VH1, Comedy Central and other cable networks filed a $1 billion copyright lawsuit against the video-sharing site and corporate owner Google Inc.
The lawsuit marks a sharp escalation of long-simmering tensions between Viacom and YouTube and represents the biggest confrontation to date between a major media company and the hugely popular site, which Google bought in November for $1.76 billion."
Implications - This should serve as a cautionary tale to all companies, big or small, to always watch out for risks of copyright infringement.