Monday, October 09, 2006

A Deal Is Struck!

I'm leaving for my critique group in ten minutes so this is a quick post.

Google did buy YouTube today for 1.65 billion dollars. This will give an enormous audience to Google and move them to the head of the video-online market.

YouTube is averaging 60 million new videos added a day and 100 million hits a day to view those videos.

The deal was sealed just hours after YouTube announced settlement talks with several music companies, most notably Universal, that have been complaining of copyright infringement by YouTube's users.

One wonders if the Google deal was predicated on the settlements.

More later.

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