EMI signs deal with YouTube

YouTube has managed to sign a deal with another music company for letting YouTube users access songs and videos from the catalog of EMI. With this, YouTube has now managed to sign a deal with all major music companies - EMI, Warner Music Group, Universal Music Group and Sony BMG Entertainment. The deal with EMI will allow users to access music and videos, and even allow them to incorporate some of these elements in their own content.
Details of the deal in terms of financial compensation to EMI is not available. However, YouTube is still facing a major lawsuit on behalf of other videos on their site, with several companies such as Viacom, The English Premier League, etc having files lawsuits against Google for infringing their copyright. This lawsuit is being fought by Google on the grounds that they are not knowingly infringing piracy, and that YouTube is just a platform, protected by the law. It could be very much possible that Google will also claim that there are a number of companies who have signed deals with YouTube, and that the companies who have filed the lawsuit are the ones who could not reach an agreement. The market does not seem to worry about the lawsuit too much, with Google's share going above $500.