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.