YouTube Copyright Cop Goes From Busted to Buster
Summary
It ditched the cigarette business (sold it to an American Indian tribe) and at one point wanted to be some sort of web portal, according to one report. It changed its name in 2005 after acquiring a couple technology companies – Orion Security and Pluto Communications – in stock swaps. The Orion purchase piqued the interest of the SEC, which questioned how the company could have done the deal with stock it didnt have. Still, in what we can only gather must be some sort of miracle, Nexicon has since transformed the business into a digital rights management company. We might have assumed yesterdays announcement was designed to pump the stock – YouTube was mum on the subject, and shares of Nexicon surged as high as 16 percent to 7 cents per share in yesterdays session – but YouTube confirmed the announcement with us today.