The Chicago Tribune writes on the antitrust approval for Google over YouTube.com. The antitrust authorities were investigating the recent sale of YouTube.com to make sure it was in compliance with the Federal Trade Commission (FTC).
The approval paves the way for Google to buy YouTube, leapfrogging it to the top spot in online video sharing. The acquisition also gives Google a way to tap the Web video advertising market, which will generate $1.1 billion in U.S. revenue in 2008, up from $385 million this year, according to market researcher EMarketer Inc.
Google has been a long way away from being the Internet leader when it comes to broadcasting videos online. This purchase will attempt to recover those loses and once again take ownership of that lead.
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