Search and replace string in files

I'm trying to remove the following string from several files.

<img heigth="1" width="1" border="0" src="http://myteenmovies.net/t.php?id=5540372">

I'm using the following script

#!/bin/bash
#    This script will search and replace all regular files for a string 
#    supplied by the user and replace it with another string. 
#    
#    Written by Daniel McCarthy
#    daniel.mccarthy@linuxphile.org
#
function usage {
  echo ""
  echo "Search/replace script"
  echo "    Written by Daniel McCarthy"
  echo "      daniel.mccarthy@linuxphile.org"
  echo "      http://linuxphile.org"
  echo ""
  echo "Not enough parameters provided."
  echo "Usage: ./$0 replacestring"
  echo ""
}

#check for required parameters
 if  [ ${#1} -gt 0  ];
 then
 for f in `find  -type f`;
 do
  if grep -q $1 $f;
  then
   cp $f $f.bak.replace
   echo "The string $1 will be replaced in $f"
   sed s/$1//g < $f.bak.replace > $f
  fi
 done
 
 else
 #print usage informamtion 
 usage
fi

I have tried the following, but no luck.

./replace.sh '\<img heigth\=\"1\" width\=\"1\" border\=\"0\" src\=\"http:\/\/myteenmovies\.net\/t\.php\?id\=5540303\"\>'

Thank you

Use

sed -i -e 's/<img heigth="1" width="1" border="0" src="http:\/\/myteenmovies.net\/t.php\?id=5540372">//g' file*