Google aquires YouTube for 1.65 billion dollars
posted at 5:19 pm on October 9, 2006 by Ian
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SAN FRANCISCO (AP) – Google Inc. (GOOG) 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.
The rumor has been around for a while.
Michelle lays out what it means for conservatives.
Outlook: not good.
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Mark Cuban said recently that anyone who buys YouTube would be a moron because it’s only a matter of time before someone gets the money and desire together to sue them for copyright infringement.
For their sake, I hope Google does a better job at restricting the amount of available copywritten materials on their site than YouTube currently does. Or they’re going to be sued to hell and back.
This will, of course, suck for the rest of us.
World B. Free on October 9, 2006 at 5:38 PM
Just an observation, but isn’t the purchasing of an unprofitable startup for a 10 figure price tag an awful lot of irrational exuberance on Google’s part? I don’t know. YouTube is a lot of fun, but it isn’t like the broadcast and cable networks aren’t going all out to produce content for profit. This seems like Yahoo buying Napster before the copyright stuff was settled.
Ennuipundit on October 9, 2006 at 5:44 PM
On the plus side, we can probably expect to see more sharks with frickin’ lasers on their heads.
Couldn’t resist.
John on October 9, 2006 at 6:06 PM
World B Free: I hope You Tube gets worse because I want to see Google get screwed. We need a conservative-friendly site to host our videos, Vents and such. Who is our George Soros? Oh, I remember Llyod Free, if that’s who inspired your name.
John: Good one.
World B Free beat me to Cuban’s comment, and Cuban is right. This is an insane amount of money for such a risky proposition. However, You Tube’s recent censorship is perfectly in line with that of Google. Now Google can tutor You Tube on how to cooperate with Communist dictatorships and really learn to censor on a major league level.
Bellicose Muse on October 9, 2006 at 6:44 PM
$1.65 Billion is a ridiculous amount of money. But CBS seems to like them too.
They’re taking a “publish now, cease and desist later” approach to the Google Library project, so they seem to be ready to go with getting sued for copyright infringement.
$1.6 Billion? To store and play videos? Just, wow. I would totally cash out and go buy an island.
Pablo on October 9, 2006 at 6:57 PM
In the spirit of the image Ian used to correspond with this on the home page… Why sell it for $1.65 Billion, when we could sell it for $1.65……… million!?
RightWinged on October 9, 2006 at 7:30 PM
So this means what? SOME videos will be banned in America?
.
. and China gets a pass?
shooter on October 9, 2006 at 7:48 PM
Well at least the editorial policy will remain stagnant
HerrMorgenholz on October 9, 2006 at 8:34 PM
Maybe now Michelle’s video won’t get banned.
Naaaahhhhh
webproze on October 10, 2006 at 8:22 AM
The creators of YouTube will now become another couple of “elitists” to work with the Gates, Soros crowd to change our government to one of their liking. Notice how Murdoch is changing his stripes to get cozy with the Left? Must be that he sees what’s happening to our country and wants to be on the winning side.
Margaret McC on October 10, 2006 at 9:15 AM
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