Google has just officially announced its purchase of YouTube.
- Google bought the site for $1.65 billion in stock.
- The amount was agreed upon after Google made a lower offer which YouTube refused.
- The deal will close in the fourth quarter of 2006.
- YouTube will remain at its current office in San Bruno, CA.
- All 67 YouTube employees will keep their jobs.
- YouTube will retain its brand identity.
- Google Video will remain and become more integrated with Google web search.
- Google stock rose 8.5% today based on rumors of the sale.
According to the article, YouTube will remain intact.
But the article does raise an interesting point. YouTube is riddled with copyrighted material.
Now that Google has bought YouTube, Will everyone and their mother try to sue Google for copyright infringment?
I know I've watched my share of videos on there. It would really suck it all those videos were removed.
Heres Good Luck to the future of YouTube.