Google Buys YouTube

Published: 2006-10-12
Internet mega-giant Google, has scooped up the hottest new site for a cool $1.65 billion US.

Seeing as you're reading this article on the World Wide Web, chances are you've heard of YouTube, the little site that could. Starting up less than two years ago, the site that offers online video clips is now the largest video site on the internet.

Though much of the content is home made snippets of kids lip-synching or doing silly tricks, it also contains a ton of copyrighted material for which it began to get into hot water earlier this year. However, recently the site signed deals, first with Warner Music and later with Sony BMG and Universal music to legally show music videos on their site. With three of the big four record labels signed up, YouTube has access to a huge chunk of all the music videos ever made to offer to watch for free on the site.

YouTube also penned a deal with CBS to offer TV shows on their site just prior to Google's takeover.

This is Google's biggest buyout to date.

Writer: Michelle Garcia



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