Google rumored to be in talks to buy YouTube

Google rumored to be in talks to buy YouTube
$1.6 BILLION DEAL FOR ONE OF THE FASTEST-GROWING INTERNET SITES
By Ryan Blitstein
Mercury News
Paul Sakuma / Associated Press archives

Workers walk in front of Google headquarters in Mountain View, Calif. in a file photo from Feb. 1, 2005. According to a Wall Street Journal report Friday, Internet search leader Google Inc. is in talks to acquire the popular online video site YouTube Inc. for about $1.6 billion.
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Google is in talks to acquire the video sharing Web site YouTube for approximately $1.6 billion, the Wall Street Journal has reported. Several blogs, including TechCrunch, have contributed to the rumor mill surrounding alleged discussions.
``We do not comment on rumor and speculation,'' said a Google spokeswoman.
A spokeswoman for YouTube also declined comment.
YouTube allows users to post and share videos -- some self-produced, others captured from copyrighted material, including film clips and music videos. The San Mateo-based company, founded in 2005, is one of the fastest-growing sites in Internet history. Its audience now watches more than 100 million videos a day.
Google Video, a similar service from the Mountain View company, attracted a unique audience of about 13 million people in August 2006, compared to more than 34 million for YouTube, according to Nielsen/NetRatings.
YouTube has been criticized by major entertainment companies because of the copyrighted content its users post. Recently, the company has signed deals with NBC and Warner Music, which have helped to lessen the criticism. These deals have also begun to bring in much-needed revenue to a site that still lacks a clear business model.

Source: http://www.mercurynews.com/mld/mercurynews/business/15696466.htm

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