Google Inc. said Monday it’s buying No. 1 Internet video sharing Web site YouTube Inc. for $1.65 billion in stock. The deal is regarded as a largely defensive one that leapfrogs Google into a leading role in a burgeoning Internet marketplace.

Valleywag rumored about what might happen, PC World confirmed it, but who knows…
at that price YouTube, a still-unprofitable startup, is the most expensive purchase made by Google during its eight-year history.

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