File under bound-to-happen: Viacom sues Youtube

Viacom has pulled out the big guns after getting tired of asking youtube to take their content down, and now sues Youtube and its parent company Google for $1 billion in damages. Yikes.

See MSN: Media conglomerate claims massive intentional copyright infringement

In a statement, Viacom lashed out at YouTube's business practices, saying it has "built a lucrative business out of exploiting the devotion of fans to others' creative works in order to enrich itself and its corporate parent Google."

Viacom said YouTube's business model, "which is based on building traffic and selling advertising off of unlicensed content, is clearly illegal and is in obvious conflict with copyright laws."