Google has bought YouTube. Very good, well done.
For £883 MILLION?????
Are they HIGH?
Granted, YouTube has an absurd amount of online users, and granted it's a good match, but it's a tiny, loss-making business. Obviously Google might do far better than YouTube has done so far in generating advertising revenue, but even so, that's a ludicrous pricetag.
And as today's papers have pointed out, the site has no permission to actually distribute copyrighted videos. Which would tend to suggest that Google has just issued a big fat "Come and have a go if you think you're hard enough" to any music or movie company that fancies taking them on for a few quid.