Dotcom billionaire Mark Cuban is one person that can be ruled out of the bidding for
– he has reportedly said that only a “moron” would purchase the video-sharing site.
The founder of broadcast.com, who made billions when it was sold to Yahoo!, told a group of advertisers in New York yesterday that any buyer laid themselves open to a barrage of copyright lawsuits.
According to Reuters, Cuban said it was a matter of time before YouTube was “sued into oblivion“.
“They are just breaking the law. The only reason it hasn’t been sued yet is because there is nobody with big money to sue.“
In his blog, the investor compared YouTube’s current situation to Napster’s, before the record labels caused the P2P song-swapping service’s fall from grace.
“Considering the RIAA will sue your grandma or a 12 year old at the drop of a hat, the fact that Youtube is building a traffic juggernaut around copyrighted audio and video without being sued is like…. well Napster at the beginning as the labels were trying to figure out what it meant to them.”
YouTube’s success has prompted a flurry of rumours about a possible listing or buyout, with figures of $1bn and above being mentioned.
However, in July it emerged it was being sued by journalist Robert Tur, whose coverage of the beating of Reginald Denny during 1992’s LA riots had been posted to the site.
Meanwhile NBC has totally changed its stance with regards to YouTube. Initially NBC played hardball over the hosting of its ‘Lazy Sunday’ skit, but the media group subsequently ironed out a favourable deal.