Youku files Tudou lawsuit

Youku.com Inc, China's biggest online video website, said on Friday that it had initiated a lawsuit against its smaller rival Tudou Holdings Ltd for copyright infringement. The lawsuit was filed on the same day that Tudou asked Youku for 150 million yuan ($23 million) in compensation for the same alleged infringements. Online video sites are currently encountering intensifying competition after making huge payments to secure content copyright and lure viewers.