Clip culture grows: Google wants to rule video with YouTube, SONY BMG, Warner deals

MOUNTAIN VIEW, Calif. – Google Inc. announced Monday that it has agreed to acquire web video clearinghouse YouTube (a 19-month-old company whose viewership is estimated at 100 million a day) for US$1.65 billion in stock. Following the acquisition, YouTube will operate independently to preserve its successful brand and passionate community, says the press release. "The acquisition combines one of the largest and fastest growing online video entertainment communities with Google's expertise in organizing information and creating new models for advertising on the Internet," says the official press release. "The combined companies will focus on providing a better, more comprehensive experience...