Paramount Inks Deal for 500 Movies on YouTube Rental Store

Paramount is now the fifth major Hollywood studio to join YouTube's online video store

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    NEWSLETTERS

    Paramount has reached a deal to make nearly 500 of its films available on YouTube's online rental store.

    YouTube and Paramount Pictures have reached a deal to make nearly 500 films available to rent online, even while their parent companies continue to feud over a $1 billion lawsuit.

    The agreement announced Wednesday makes Paramount the fifth major Hollywood studio to join YouTube's online video store, a growing rental library that typically charges $2 to $4 per viewing. News Corp.'s 20th Century Fox is now the only major studio holdout.

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    But Paramount seemed less likely to join given that its parent company, Viacom Inc., is still pursuing a 2006 lawsuit that seeks damages for alleged piracy by YouTube, which is owned by Google Inc.

    A federal judge in New York ruled in 2010 that YouTube hadn't broken U.S. laws governing digital piracy, but Viacom is appealing the decision.

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