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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."Our companies share similar values; we both always put our users first and are committed to innovating to improve their experience.
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.
Following the acquisition, You Tube will operate independently to preserve its successful brand and passionate community.
The acquisition combines one of the largest and fastest growing online video entertainment communities with Google’s expertise in organizing information and creating new models for advertising on the Internet.
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.