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Google Takes YouTube For $1.65 Billion

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The video sharing site YouTube finished a busy day of deal with content providers with the announcement that it, too, had closed a big deal in being acquired by Google.

TechCrunch blog on Friday became reality today. YouTube and Google disclosed the all-stock transaction of $1.65 billion has been agreed upon and should close in the fourth quarter of 2006. "Our companies share similar values; we both always put our users first and are committed to innovating to improve their experience," said Eric Schmidt, Chief Executive Officer of Google. "Together, we are natural partners to offer a compelling media entertainment service to users, content owners and advertisers." While this may be compelling to those parties, it can't be a great time for those Googlers who built

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