Google slated to buy YouTube
CNN Money is reporting that Google has entered talks with Youtube about a potential purchase agreement. Youtube has become an internet sensation over the past year with users from around the world posting random videos for viewing. With viewership ranging in the hundreds of millions, Youtube is not without its own controversy. Universal Studios has recently begun challenging the content on Youtube as being in violation of copyright laws and hint at possible legal action in the near future. Todays report indicates Google would pay $1.6 billion dollars for the company.
YouTube, based in San Mateo, Calif., allows viewers to upload and share video and it estimates that over 100 million videos are watched everyday .It has been speculated that the privately held company would be sold or taken public - although one critic, Internet start-up developer Mark Cuban, was quoted as saying anybody who buys YouTube "is a moron."
