|From Left Chad Hurley, Steve Chen & Jawed Karim|
www.youtube.com led to problems for a similarly named website, www.utube.com. The owner of the site, Universal Tube & Rollform Equipment, filed a lawsuit against YouTube in November 2006 after being overloaded on a regular basis by people looking for YouTube. Universal Tube has since changed the name of its website to www.utubeonline.com. In October 2006, Google Inc. announced that it had acquired YouTube for US$1.65 billion in Google stock, and the deal was finalized on 13 November 2006. In November 2008, YouTube reached an agreement with MGM, Lions Gate Entertainment and CBS, allowing the companies to post full-length films and television episodes on the site, accompanied by advertisements in a section for US viewers called "Shows". The move was intended to create competition with websites such as Hulu, which features material from NBC, Fox, and Disney. And until now, we can see progress and improvement on youtube.