The Journal reports:
Google Inc. agreed to buy closely-held YouTube Inc. in an all-stock deal worth about $1.65 billion, a transaction that will unite the popular video-sharing site with Google’s online advertising system.
Under the terms of the deal, which was expected, YouTube will at least initially retain a significant measure of independence, keeping its brand and offices. YouTube will continue to be based in San Bruno, Calif., and all YouTube employees will remain with the company. The companies said they expect to close the transaction in the fourth quarter.
More when….etc.
First here too Bitches!
So maybe this is what Brin means by cutting back on projects? Instead of building their own or making their own better, Google will just go out and buy what it needs. Keyhole.. Picasa.. Blogger.. Writely.. YouTube.. the list keeps growing. Heck, why not get rid of the engineers altogether; all you need is an ad sales department and an acquisitions department.
Don’t even get me started on what a complete 180-degree about face this is for Google, regarding copyright issues.
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