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I told you so. Google's acquisition of YouTube has gotten a lot of attention for its $1.65 billion pricetag. But that's not the end of the story. Chapter two of the YouTube saga will be an elaborate dance with copyright laws—and holders. Stephen Colbert's comic diatribe ("the way I see it, you owe me $700 million") is only the tip of the iceberg. There will be purges, of course, including 30,000 items deleted at the demand of the the Japan Society for Rights of Authors, Composers and Publishers. YouTube had quietly started changing its business model a month before the acquisition by signing a deal with Warner Music that will allow revenue sharing for music clips, even those, um, unofficially uploaded by fans. There's a new concept: file sharing retroactively made legal! The rapprochement may be traced back to February when Saturday Night Live aired a rap parody featuring Andy Samberg and Chris Parnell called "Lazy Sunday: Chronicles of Narnia." Reports Business Week: "NBC asked YouTube to pull the video down, and YouTube complied. However, after the clip showed up on YouTube, Saturday Night Live's ratings ballooned, says Gerry Kaufhold, an analyst with consultancy In-Stat. In the end, NBC decided to make even more programming available to the site." YouTube's graceful transition from copyright outlaw to media darling may become an influential model—but only for as long as it can ride on the magic carpet of net neutrality. That rug may get pulled from under us at any moment. Will chapter three of the YouTube story be about its death on the information superhighway?