According to Wall Street Journal sources, Google is in talks with YouTube to acquire the video-sharing behemoth for roughly $1.6 billion. Rumors have been circulating since earlier this year about major media companies expressing an interest in buying the site, though CEO Chad Hurley had said at the time that the company was not for sale.
Buzz surrounding the possible buyout were reported on the TechCrunch blog, stating that, according to an inside source, discussions are still at a sensitive stage. Spokespeople from YouTube and Google could not be reached and refused to comment, respectively.
Founded in February 2005, YouTube users currently watch more than 100 million videos daily, and the site’s market share has surpassed similar video services like that provided by Google.