What will this mean for these two sites, and the ability to play these videos on our axims?
Quote:
NEW YORK — Google Inc. (GOOG) is snapping up YouTube Inc. for $1.65 billion in a deal that catapults the Internet search leader to a starring role in the online video revolution.
The all-stock deal announced Monday unites one of the Internet's marquee companies with one of its rapidly rising stars. It came just hours after YouTube unveiled three agreements with media companies in an apparent bid to escape the threat of copyright-infringement lawsuits.
The price makes YouTube, a still-unprofitable startup, by far the most expensive purchase made by Google during its eight-year history.
Although some cynics have questioned YouTube's staying power, Google is betting that the popular Web site will provide it an increasingly lucrative marketing hub as more viewers and advertisers migrate from television to the Internet.
"We are natural partners to offer a compelling media entertainment service to users, content owners and advertisers," said Eric Schmidt, Google's chief executive officer.
YouTube will continue to retain its brand, as well as all 67 employees, including co-founders Chad Hurley and Steve Chen. The deal is expected to close in the fourth quarter of this year.
If I was a broadcast network... I'd be starting to feel really worried.
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Excellent. Another "big player" in the software market. Perhaps Wintendo Vista SP9 will cost less than 3 B, use less than 60GB RAM and actually WORK when it's released.
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