Web search leader Google Inc. (Nasdaq:GOOG - news) on Monday said it agreed to acquire top video entertainment site YouTube Inc. for $1.65 billion in stock, putting a lofty new value on consumer-generated media sites.
The deal, the first to value one of the new crop of user-participation Web sites at more than $1 billion, combines two of the most popular Internet brands: Google, synonymous with Web search and rapid innovation, and YouTube, a Silicon Valley upstart that has spearheaded the video-sharing craze.
Monday, October 9
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