Jon Stewart tries to explain,What is Bush’s Job??
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GOOGLE is in talks to buy YouTube for an estimated $1.6 billion (£850 million) in a deal that would net the video website’s co-founders hundreds of millions of pounds.
The internet search company has a $10 billion war chest and is pursuing YouTube as it looks to build on its fledgeling Google Video business by acquiring the industry leader.
YouTube began as a site dedicated to video clips uploaded by its users. But last month it signed a deal with Warner Music that gives its users free access to songs and videos from its entire stable of artists, including Madonna and Green Day.
But Google would also inherit problems as well as benefits if it buys the company. Last month Doug Morris, the chief executive of Vivendi’s Universal Music Group, told his investors that “copyright infringers” such as YouTube and MySpace “owe us tens of millions of dollars”. Mr Morris was referring to the use of pop songs as background music in YouTube amateur videos as well as the Universal artists’ own productions on the website.
YouTube also faces competition from other video providers such as Microsoft, Yahoo! and MySpace, which all seek to win a share of this lucrative market.
Of the founders, Mr Hurley is now chief executive and Mr Chen is chief technology officer. Mr Karim has left the company.
