backtop


Print 30 comment(s) - last by kruege311.. on Oct 11 at 4:37 AM

Google to buy YouTube for $1.65 bil USD in stock

DailyTech reported last week the Google was in talks to buy online video site YouTube. The site currently holds nearly 50% of the online video search market and serves as many as 100 million videos per day.

Today, Google confirmed all of the rumors and announced that it has agreed to snap up YouTube Inc. for 1.65 billion dollars in stock. With the purchase, however, comes YouTube's baggage which consists of issues with copyright infringement and numerous lawsuits. The company is currently embroiled in a rather nasty fight with Universal Music.

Investors, on the other hand, for the most part have been enamored with the idea of a Google-YouTube merger. USA Today reports:

The deal would be by far Google's most expensive in its eight-year history. The lofty price underscores how important Google expects online video to become as more viewers and advertisers migrate from television to the Internet.

"This fits with Google's strategy," said Roger Aguinaldo, an investment banker who also publishes a dealmaking newsletter called the M&A Advisor, told the AP. "It's something that they couldn't build fast enough by themselves."

With this big merger now taken care of, who could be next on the takeover list? Investors are pointing fingers at a possible Yahoo acquisition of Facebook.com.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: renamed?
By Sunday Ironfoot on 10/9/2006 5:57:55 PM , Rating: 2
quote:
Goo-Tube?


Beat me to it :(


RE: renamed?
By walmartshopper on 10/9/2006 6:40:54 PM , Rating: 3
lol, Jay Leno beat both of you to it.


RE: renamed?
By S3anister on 10/9/2006 9:57:34 PM , Rating: 2
lol i win though, goog tube is better lol.


"We shipped it on Saturday. Then on Sunday, we rested." -- Steve Jobs on the iPad launch

Related Articles
Report: Google in Talks to Buy YouTube
October 6, 2006, 10:21 PM













botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki