Google Is Said to Set Sights on YouTube

Google is said to be in discussions to acquire YouTube, the popular video-sharing Web site that has yet to turn a profit, for $1.6 billion. The New York Times reports.

"While the talks are in the early stages, and may fall apart, the size of Google’s offer may push popular video-sharing Web site closer to a deal. Other companies have also expressed interest and could swoop in with a higher offer.

... The frenzied hunt to acquire the next hot Internet property — MySpace last year and now popular video-sharing Web site — has become reminiscent of the first Internet boom, as companies bid up prices of sites whose ability to generate profits is the subject of much debate.

emily | 9:43 AM | News, Buzz |
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