Google and Viacom have decided to settle a long running lawsuit that started way back in 2007, over claims the video sharing website was responsible for many acts of copyright infringement.
Viacom sued Google, the owners of YouTube, for $1 billion in damages over what the company says are thousands of acts of copyright infringement. A 2010 District Court ruling found in favor of Google, and subsequent appeals upheld at least part of the original ruling.
With another appeals court session to begin next Monday, both companies decided against going back to court and have now settled the matter once and forever.
While the terms of the settlement are undisclosed, monetary compensation does not seem to be part of the agreement. Both companies seem willing to focus on the future, instead of dwelling on the past.
"This settlement reflects the growing collaborative dialogue between our two companies on important opportunities, and we look forward to working more closely together," a statement by Google and Viacom explained.