Goo-Tube: Google Search Leads to $1.65 Billion Find
LOS ANGELES, October 9, 2006, (PodTech News) — Google and video-sharing site YouTube announced a stock-for-stock transaction today valued at $1.65 billion. The deal, expected to be completed in the fourth quarter of this year, will combine YouTube with Google’s own fast-growing video business. YouTube will retain its own identity and remain in San Bruno, Calif., while continuing to build on its success as one of the world’s most popular services for video entertainment. The combined companies will focus on providing a better experience for users who upload, watch and share videos, and will offer new opportunities for professional content owners to distribute their work to reach a vast new audience. PodTech’s Matt Kelly spoke with Forrester Research analyst Josh Bernoff following the joint announcement made during a company-wide conference call. The call is included here in its entirety.
Reporter’s Notes: A replay of the call will be available until midnight Monday, October 16 at 888-203-1112 domestically and 719-457-0820 internationally. Confirmation code for the replay is 2260624.
A live audio webcast of the conference call will be available at http://investor.google.com/webcast.html.
– Matt Kelly