Is Google About to Buy on-line Video site You Tube for 1.6 Billion?

Google and You Tube in possible acquisition talks? A potential $1.6 billion deal for the on line giant Google to buy the on-line video sensation You Tube.

A deal between YouTube and Google would combine Google’s massive online ad system, which handles ads from hundreds of thousands of advertisers, with the top online-video site, according to several research firms. YouTube, San Mateo, Calif., says consumers view videos — which range from short home videos of household pets to clips recorded from TV shows — more than 100 million times daily through its service. (Wall Street Journal)

UPDATE: Google may announce deal to buy YouTube: source

The speculation and debate continues as to whether this is internet rumor or a reality.

NEW YORK (Reuters) – Internet search leader Google Inc. could announce a deal to buy the top online video service, YouTube Inc., as early as Monday, according to a source familiar with the matter.