10.10.06
Google Acquires YouTube
Mark Walsh reported today that Google agreed to acquire YouTube for $1.65 billion on Monday. Google is making a big bet that it can harness its considerable advertising expertise to turn YouTube’s vast collection of video content into a media gold mine. Exactly what type of ad model will emerge from the Google-YouTube deal is not yet clear. But in a conference call Monday announcing the acquisition, Google co-founder Sergey Brin called video “a great medium for advertising.” Read the full Google YouTube deal story.
Some rather scary stuff that, it’s like a whole new media boom…or would that be “bang”? All the video sites are standing in line to be swept up by the competition I’m sure!