Google in talks to buy Web video site YouTube

OK, $1.6B is a lot of money but I still like it. I understand the allure of YouTube, unlike that of MySpace. YouTube is just as fascinating as the boob tube, if not more so.

Web search leader Google Inc. (GOOG.O: Quote, Profile, Research) is in talks to buy YouTube Inc., the world's leading Web site for video entertainment, for close to $1.6 billion, the Wall Street Journal reported on Friday, citing a person familiar with the matter.

Another reason to like YouTube more than MySpace: more than half of MySpace users are over 35. Not such a cool crowd anymore.

Link: UPDATE 2-Google in talks to buy Web video site YouTube-WSJ�|�Mergers & Acquisitions�|�Reuters.com