That's right, according to The Wall Street Journal, Google is in talks to acquire video sharing site YouTube for $1.6-billion. Analyst Trip Chowdhry says: "It's damn cheap for a company that already has a global presence." This rumor has not yet been confirmed by either party.
A purchase of YouTube could give a big boost to the online video efforts of Google. YouTube commanded 46% of visits to U.S. online video sites in August, according to market research firm Hitwise. That compared to a 23% share for the video activities of News Corp.'s MySpace social-networking site, and 10% for Google Video[via TechCrunch - Gizmodo]