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Will YouTube be sued into "oblivion"? Loud-mouth billionaire Mark Cuban thinks so.
YouTube, based in San Mateo, California, specializes in serving up short videos created by everyday people. Its popularity, with more than 100 million video showings daily, has spurred speculation the firm will be sold or taken public.But YouTube has also come under scrutiny because users often post copyrighted material, including music videos produced by well-established artists.
YouTube company representatives were not immediately available to respond to Cuban's comments.
Cuban said "anyone who buys that (YouTube) is a moron" because of potential lawsuits from copyright violations.
"There is a reason they haven't yet gone public, they haven't sold. It's because they are going to be toasted," said Cuban, who has sold start-ups to Yahoo Inc. (Nasdaq:YHOO - news) and CompuServe.
YouTube, which has nearly one-third of the U.S. Web video audience, three times that of Google Inc., or twice that of News Corp's MySpace, has been working on signing licensing deals with music companies and TV networks to ensure they are paid when users view their content.
Posted by YourMomsBasement at September 29, 2006 09:30 AM