User:JarlaxleArtemis/Creations/Wikipedia:April 1, 2005/-2005 Britannica takeover of Wikimedia-

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[edit] Wikipedia:April 1, 2005/-2005 Britannica takeover of Wikimedia-

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On April 1, 2005, Encyclopædia Britannica announced its immediate hostile takeover of the Wikimedia Foundation and all of its projects, including Wikipedia, Wikimedia, Wikisource, Wikibooks, and Wikinews.

The agreement reportly included a $140 million severance package for each of the five members on the Wikimedia Foundation Board of Directors. Jimbo Wales, the founder of Wikimedia, was reported to be "extremely pleased" with the agreement.

Measures expected to be implemented as part of the agreement include an immediate restriction on contributions to Wikipedia and its sister projets to those that have already signed formal agreements with Britannica and an immediate appropriation of all funds donated during the last funding drive to be divided amongst previous contributors to Britannica.

Representatives of Google indicate that the company is "disappointed" with the turnout of the agreement. Google had previously made indications of wishing to buy out the Foundation in a similar fashion.

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