Google faces copyright fight over YouTube from The Guardian cover how chair and CEO of Time Warner Dick Parsons said his company plans to go after YouTube for copyright violations. It's still talk rather than legal actions:
Mr Parsons told the Guardian: "You can assume we're in negotiations with YouTube and that those negotiations will be kicked up to the Google level in the hope that we can get to some acceptable position."
I'm sure it will get kicked up. And it shouldn't be hard to get the right people connected given that the AOL part of Time Warner already has an existing distribution deal with Google. Of course, if that fails, it should be interesting to see if Time Warner sues a copy that has a five percent ownership stake in AOL. Related coverage and commentary can be found via Techmeme, here.