Google Inc. has set aside more than $200 million in its just-completed takeover of YouTube Inc. to cover possible losses on the deal, creating a financial cushion that might protect the Internet search leader it it’s hit with legal bills for the frequent copyright violations on YouTube’s video-sharing site.
Without elaborating in a late Monday statement, Google said it is withholding 12.5 percent of the stock owed to YouTube for one year ‘to secure certain indemnification obligations.’
I asked about the YouTube acquisition and whether a portion of the $1.65 billion sum was reserved to pay settlements with various media companies, as Mark Cuban asserted on his site. Eric flatly denied it.