It's official: Google buys YouTube for $1.65B

[T2k]

Google buys YouTube for $1.65 billion

Search giant's purchase of video sharing service biggest in its history

BREAKING NEWS
Updated: 2 minutes ago


SAN FRANCISCO - Google Inc. snapped up YouTube Inc. for $1.65 billion Monday in deal that catapults the Internet search leader to a leading role in the online video revolution.

The all-stock acquisition unites one of the Internet's marquee companies with one of its rapidly rising stars.

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.

Source: http://www.msnbc.msn.com/id/15196982/


Now Mark Cuban really sounds like an idiot...

 

[Pepper]

Have the copyright infringement lawsuits been filed yet? Now there's deep pockets for the lawyers to pick.

 

[T2k]

It's a very common misconception, let me clear this once and forever: the relevant law contain a provision called "safe harbor" for providers who 1. does not make money from the alleged infringement and 2. cannot control the flow of the material.

In other words as long as YouTube cannot filter (indeed it cannot) effectively, makes it clear in its policies that such unlawful use is not permitted (it does) and removes any material turned out to be illegal upon request (it does) they cannot be sued.