Google to buy YouTube?

Wha-wha what!


CNN.com has the story:

Report: Google in talks to buy YouTube
Search engine declines comment on story that it’s discussing deal to acquire video-sharing site for around $1.6 billion.
October 6 2006: 3:22 PM EDT

NEW YORK (CNNMoney.com) — The online search giant Google Inc. is in talks to purchase the closely held Web sharing sensation YouTube for around $1.6 billion, according to a report published Friday.

Citing a person familiar with the matter, The Wall Street Journal reported that the companies are currently holding talks, but that discussions are at a sensitive stage.

“We do not comment on rumors and speculation,” Google spokesman Jon Murchinson told CNN.

A YouTube spokeswoman also said the company doesn’t comment on rumors or speculation.

YouTube, based in San Mateo, Calif., allows viewers to upload and share video and it estimates that over 100 million videos are watched everyday .It has been speculated that the privately held company would be sold or taken public – although one critic, Internet start-up developer Mark Cuban, was quoted as saying anybody who buys YouTube “is a moron.”

While the company has been criticized for allowing users to post copyrighted material on its Web site, YouTube inked a partnership with Warner Music Group (up $0.49 to $26.94, Charts) last month to distribute music videos and artist interviews.

The respected Silicon Valley blog Techcrunch first reported rumors of Google-YouTube deal earlier today.

Google (up $8.96 to $420.77, Charts) shares were higher in afternoon trading on the Nasdaq exchange as were shares of rival Yahoo (up $0.22 to $25.40, Charts).

I hope YouTube holds on for more money…I mean come on, only 1.6 billion? seriously? 😛

–Socram

Cos
About Cos 5064 Articles
Marcos Cosme has had a love for writing and film since he was little. By combing those two passions, he started studying film early on in Middle School and High School writing screenplays and working in his High School television production studio. When it came time for college he decided to pursue a bachelors in Electronic Film making from Fairleigh Dickinson University. Marcos continues to be an avid watcher of movies and scripted television series, although he does, on occasion, watch some reality shows. He has watched hundreds of movies during the course of his life and has worked in various roles on small independent film projects, including writing, producing and directing. In his spare time Marcos loves to write screenplays, read books, contribute articles, blogs and reviews on various topics including (but obviously not limited to) movies, television, books, and wrestling; just to name a few. He is a Rabbit aficionado (he has a dwarf rabbit named Peanut-who is the logo of Cos' Blog) and is a Golden Retriever connoisseur (he has two Goldens named Cassie and Chloe). He also love to spend time with his wife and as of July of 2015 they welcomed their first child, Miles, who can occasionally be seen on the blog.

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