Official: Google to buy YouTube for $1.65 billion
updated 04:55 pm EDT, Mon October 9, 2006
Google Buys YouTube
Previously hinted at by anonymous sources speaking to the Wall Street Journal, Google today confirmed that it was buying the Internet video provider for $1.65 billion in stock, according to an official press release. The deal will see YouTube retain its existing identity without any expected job cuts or relocation, Google says, as it prefers to keep the younger company's ad hoc culture intact. While exact details of the companies' future plans were not released, the buyout is expected to give YouTube a considerably wider reach than it has had in the past, integrating the video site with Google's extensive advertising and search resources.
In acquiring YouTube, Google now becomes the single largest distributor of online video and thus a tremendous influence on content providers as well as video stores such as iTunes. Google and YouTube expect the deal to be finalized by the end of 2006 pending government approval.
Truth
10/09, 11:24pm reply
I guess the rumours were true after all…
ccsccs7
Mac Enthusiast
Joined: Nov 2001
YOU tube in itunes
10/10, 01:48am reply
I think it is clearly going to happen, as apple and Google are in love with each other :-)
nycnikato
Fresh-Faced Recruit
Joined: Aug 2006
monopoly everywhere
10/10, 08:59am reply
doesn't google already have its own video section??
SAMSony
Fresh-Faced Recruit
Joined: Sep 2006
google/youtube = NG
10/10, 10:44am reply
Basically YouTube is a 'copyright infringer' and should be put in the scrap pile of history anyway.
Looks like a golden parachute and early retirement for CEO's that allow the 'Breaking of Copyright Law'.
Can't understand why google would put its' neck on the block??
All For a couple of bucks...
BTW - the big G company makes 'click fraud profits'; I guess its hard for a company to ethical nowadays anyway; Looks like G hires employees to sit around all day and click links by advertisers who 'love' getting ripped off...
Pathetic
Albert
Fresh-Faced Recruit
Joined: May 2003