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.
Last updated: Jun 16, 2020 at 04:29 pm CDT