Google Buys YouTube

The rumours were correct. YouTube sold to Google for a tidy $1.6 billion. Not bad for a site that’s barely 18 months old, eh.

Here’s a look at the two 20-somethings behind YouTube, Chad Hurley and Steven Chen.

The potential copyright woes are an interesting side issue, which will take a while to play out. No doubt Google will be looking to cut publishers in on advertising revenues based on media views:

YouTube’s–and therefore Google’s–potential legal liability depends on how the courts interpret an area of copyright law that remains surprisingly unsettled. In addition, the U.S. Supreme Court’s decision in the Grokster file-sharing lawsuit has raised more questions about who’s liable and who’s not.

But here’s a twist: “Fox is the owner of much of the copyrighted material contained on YouTube”.

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