Boston, MA 10/02/2013 (wallstreetpr) – Yahoo! Inc. (NASDAQ:YHOO), the multinational internet corporation from the U.S. has a huge customer base because of its wide range of service offerings. Its services products such as yahoo news, yahoo mail and yahoo search are some of its most popular ones. Recently, the U.S. giant company settled a copyright dispute, which it has been fighting for a few years with Singapore Press Holdings Limited (SPH). The details of the settlement, concluded on Monday, is however yet to be officially disclosed.
In the year 2011, Singapore Press Holdings alleged Yahoo of using its copyrighted contents in its news portals. The media company from Singapore went ahead and filed a lawsuit in Singapore court claiming compensation from the U.S. multinational company. According to SPH, Yahoo’s Singapore unit has used around 23 of the articles prepared by their writers for the company’s several newspapers between 2008 and 2011. No permission or consent was taken from the related authority to use such copyrighted articles. When Yahoo was sued by the media company in 2011, it denied all the allegations that were brought against the company. At that time, officials from Yahoo! Singapore also contravened to have published SPH’s resources in its Singapore’s news portal. SPH, which enjoys a monopoly in the print media segment in Singapore runs a wide range of newspapers in the country and also has largest circulation compared to any other print media company of Singapore.
In a recent announcement, an official from Yahoo admitted that the company has reproduced some of the materials of SPH in its news portal and violated the copyright policy. The employees related to such unethical practices were also terminated. Yahoo has agreed compensate for this but the settlement amount was not disclosed by either of the parties.
