Update on Universal's Lawsuit Against Bolt

As I mentioned in my article, after YouTube's acquisition Universal Music sued two of YouTube's competitors for copyright infringement, including Bolt.com. According to this post on Mark Cuban's blog, the lawsuits were intended to help solidify YouTube's market share, in consideration for the $500 million Google placed in escrow for the content providers for past copyright infringement on the site.

Recently, a settlement was ironed out between Universal and Bolt, as discussed here. Bolt conceded infringement of Universal's copyrights and agreed to pay several million dollars, as well as making royalty payments if Universal videos are uploaded in the future.

As a consequence of the settlement, Bolt.com agreed to sell itself to a smaller competitor GoFish for approximately $30 million in GoFish stock. So apparently the little fish can sometimes swallow the big fish...