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Google to Acquire YouTube for $1.65 Billion USD

| Business, Financial & Legal News | Posted: Oct 11, 2006 12:30 am

2006 seems to be the year of acquisitions, details have emerged at the DailyTech regarding Google's decision to acquire YouTube for 1.65 Billion. There's also an article up over at The TechZone explaining Google's reasoning behind such a big move.

 


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.

 

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