Together, we are natural partners to offer a compelling media entertainment service to users, content owners and advertisers.""Our community has played a vital role in changing the way that people consume media, creating a new clip culture.By joining forces with Google, we can benefit from its global reach and technology leadership to deliver a more comprehensive entertainment experience for our users and to create new opportunities for our partners," said Chad Hurley, CEO and Co-Founder of You Tube.The combined companies will focus on providing a better, more comprehensive experience for users interested in uploading, watching and sharing videos, and will offer new opportunities for professional content owners to distribute their work to reach a vast new audience."The You Tube team has built an exciting and powerful media platform that complements Google’s mission to organize the world’s information and make it universally accessible and useful," said Eric Schmidt, Chief Executive Officer of Google.
You Tube will continue to be based in San Bruno, CA, and all You Tube employees will remain with the company.Google’s innovative search technologies connect millions of people around the world with information every day. Google’s targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users.MOUNTAIN VIEW, Calif., October 9, 2006 – Google Inc.(NASDAQ: GOOG) announced today that it has agreed to acquire You Tube, the consumer media company for people to watch and share original videos through a Web experience, for .65 billion in a stock-for-stock transaction.
Both companies have approved the transaction, which is subject to customary closing conditions and is expected to close in the fourth quarter of 2006. To access the conference call, please dial 800-289-0572 domestic and 913-981-5543 internationally.
The company will host a conference call and webcast at p.m. A replay of the call will be available until midnight Monday, October 16 at 888-203-1112 domestically and 719-457-0820 internationally. A live audio webcast of the conference call will be available at investor.google.com/ students Larry Page and Sergey Brin, Google today is a top web property in all major global markets.