Google has Officially Acquired Youtube
Techcrunch:
This deal has huge implications for the future of new media. With Newscorp's purchase of Myspace, the deal yesterday, and rumors circulating that Yahoo may be purchasing Facebook, the major players in social networking all seem to be going corporate. It remains to be seen whether this will be a positive development or not. Myspace, since being acquired, has considerably more advertisements. The same is likely to happen with Youtube given Google's unique position in online advertising. I am optimistic, however, about the outcome of this deal. Google is a respectable company with vast resources that will inevitably improve the service Youtube provides.
Technorati tags: Google / Youtube / New+Media / Myspace / Facebook / Newscorp / Yahoo
Moments ago the deal was confirmed. In their largest acquisition to date, Google has acquired YouTube for $1.65 billion in an all stock transaction. Both companies have approved the deal, which should officially close in the fourth quarter. YouTube’s 65 employees will remain with the company at YouTube’s San Bruno headquarters.You can listen to the conference call the two companies did today here.
Details are also emerging that Yahoo was in the bidding war until very close to the end.
This deal has huge implications for the future of new media. With Newscorp's purchase of Myspace, the deal yesterday, and rumors circulating that Yahoo may be purchasing Facebook, the major players in social networking all seem to be going corporate. It remains to be seen whether this will be a positive development or not. Myspace, since being acquired, has considerably more advertisements. The same is likely to happen with Youtube given Google's unique position in online advertising. I am optimistic, however, about the outcome of this deal. Google is a respectable company with vast resources that will inevitably improve the service Youtube provides.
Technorati tags: Google / Youtube / New+Media / Myspace / Facebook / Newscorp / Yahoo
