Posted on October 7, 2006 - by John

Google to Acquire You Tube for 1.6 Billion

The whole world and it’s mother knows about YouTube and Google, so Google’s intentions to buy the video sharing website, seems to be good for everyone. At it comes at a bargin price of only 1.6 Billion. NY Times speculates that this is buy our is a reaction to Rupert Murdock who acquired of Myspace last year, which he paid 580 USD million for but is now worth 2 billion USD.

A deal would end an almost yearlong chess game among the nation’s media and technology moguls to take over YouTube, which allows users to share home movies, amateur spoofs and snippets of the best parts of television shows. Though it is not yet profitable, the site has exploded into a cultural phenomenon less than a year after its debut, broadcasting more than 100 million video clips a day. (Source NY Times)

Tags: YouTube, Google

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