Google agreed Monday to pay $1.65 billion to acquire online video giant YouTube, a deal anticipated for several days. Now that the combination is official, the question is whether the deal guarantees full employment for every copyright infringement lawyer in the country.
The problem: A lot of the content on YouTube, according to some critics, is in violation of copyright laws. Google is clearly betting that it will be able to solve that issue, or at least make it affordable. The plan appears to be to turn YouTube's current adversaries into partners. And Wall Street apparently thinks the new partners will make it work. Google (GOOG, news, msgs) shares were up 2% in regular trading today and up slightly more in after-hours trading.
If Google is wrong, well, YouTube's current owners just got insanely rich because they held all the cards.