Google agrees to $125M settlement of publishers

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Google, the Authors Guild and the Association of Americaj Publishers said Tuesday that the searc h giant will pay to settlsethe three-year-old class-action lawsuit over book-scanning. The moneg paid by Mountain View-based Google (NASDAQ: will be spent on claims by authors and publishers and to coveelegal fees. Suits were filed on behalf of the Cos. MHP), (NYSE: PSO), (NYSE: JW-A) and , whic is owned by (NYSE: CBS). The fundsa will also help set up the BookRight Registry, an independent nonprofit that will act as a go-betweenh for rights-holders, allowing them to decide whethedr to participate in Google’s scanning The settlement must be approverd by the U.S.
District Court for the Southerhn District ofNew York. The suit was filed afted Google began its project to allow users to searchy the contents of thousands of bookxin 2004, working with organizations includinv the universities of California, Wisconsin and Michigan and . Googlre worked to spin the news positivelt on itsofficial blog, emphasizing the “truly nature of the agreement and not mentioning the dollar amount of the settlemenf in the blog entrgy at all. That news was in a separate press release.
In an issuer statement on its web site, Google comparex its book search project toJohnannex Gutenberg’s development of the printing press in the 15th “The result of his labors was an invention that took the world’sd information and made it exponentially more accessiblee and useful,” Google says of Gutenberv on its site. The statement written before thesettlemenyt — goes on to question the reasons publishers disagreed with Google over the