By ANDREW ROSS SORKIN and JEREMY W. PETERS
Published: October 9, 2006
Google announced this afternoon that it would buy YouTube, the popular video-sharing Web site, for stock that it valued $1.65 billion.
Google beat out a number of other YouTube suitors, including Microsoft, Viacom, Yahoo and the News Corporation. By successfully negotiating the deal, Google has once again proved that it is the Internet’s dominant player.
Under the terms of the deal, YouTube will retain much of its identity and will keep its name and its office in San Bruno, Calif., more than 25 miles from Google’s headquarters in Mountain View. (more…)