Here’s something I missed. According to Good Morning Silicon Valley,

Shortly before the acquisition was announced, Vivendi’s Universal Music Group, Warner Music Group and Sony BMG each received a small stake in YouTube as part of content deals with the video sharing company. The three companies collectively stand to receive as much as $50 million from the deal, which will no doubt make them a bit more reticent than they once might have been to pursue copyright-infringement claims against the site.

Shrewd move by Google.