October 9, 2006
YouTube Closes Deals with Google, CBS, Sony, Universal
Confirming a rumor that has been floating about for the past few days, Google has paid out more than $1.6 billion for the immensely popular YouTube. YouTube's Chad Hurley and Steve Chen will stay with the company. YouTube has been a hot commodity over the past few months--in June it signed a deal with NBC in which it would promote NBC programming. Also today YouTube signed a mega-deal with CBS, Sony and Universal under which it promote product for those corporations. CBS also plans to test new technology on YouTube that will find and delete copyrighted material.
October 9, 2006 | Permalink
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