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shueman
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Posted: Oct. 09 2006,6:48 pm |
Post # 1 |
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$1.6 billion for a two-year old venture capital funded internet content sharing site..... 
Man, I'm def. in the WRONG business....  Â 
Google closing in on deal to buy YouTube
2006/10
By MICHAEL LIEDTKE, AP Business Writer
SAN FRANCISCO - Google Inc. appears to be on the verge of buying YouTube Inc. for at least $1.6 billion in a deal that would catapult the Internet search leader to a leading role in the online video revolution.
Google spokesman Jon Murchinson declined to comment Monday. A YouTube representative said the startup‘s primary spokeswoman won‘t be available for comment until after the stock market closes. A partner for the venture capital firm Sequoia Capital, which owns about 30 peent of privately held YouTube, also was unavailable for comment Monday because he was tied up in a meeting.
The deal would be by far Google‘s most expensive in its eight-year history. The lofty price underscores how important Google expects online video to become as more viewers and advertisers migrate from television to the Internet.
"This fits with Google‘s strategy," said Roger Aguinaldo, an investment banker who also publishes a dealmaking newsletter called the M&A Advisor. "It‘s something that they couldn‘t build fast enough by themselves."
Sever - ) and News Corp., reportedly have discussed a possible YouTube purchase in recent weeks.
Selling to Mountain View-based Google will give YouTube more technological muscle and generate a staggering windfall for a 67-employee company that was running on credit card debt just 20 months ago.
While most videos posted on YouTube are homemade, the site also features volumes of copyrighted material — a problem that has caused some critics to predict the startup eventually would be sued into oblivion.
The conciliatory approach has recently yielded several licensing and promotional agreements that have eased some of the copyright concerns while providing the company with some financial breathing room until it becomes profitable.
As its negotiations with Google appeared to near fruition, YouTube on Monday announced new partnerships with Universal Music Group, CBS Corp. and Sony BMG Music Entertainment. Those alliances followed a similar arrangement announced last month with Warner Music Group Inc.
The truce with Universal represented a particularly significant breakthrough because the world‘s largest record company had threatened to sue YouTube for copyright infringement less than a month ago.
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shueman
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Alta Loma CA
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Posted: Oct. 09 2006,6:57 pm |
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Steve Chen, Chad Hurley and Jawed Karim are friggin rich. They stand to make around $200 million each.....
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GoFastRacer
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Posted: Oct. 09 2006,9:16 pm |
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It's all about the money!.. 
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Please help keep HDF free. If you
enjoy this site, feel free to make a donation to keep it running. THANKS!
12-25-2025 Three Word Post.....The Next Generation.... (Rep.#20,039) from: BigDog
Incidently, that program generated more $$$ for this site than all other forms of income COMBINED! 
Not enough drama for them?? 
