The deal is worth $1.775 billion to YouTube's founders

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(Continued) The RFS Newsletter, Nov. 18, 2006. Page 4
Based on Monday’s closing price of $481.03 per share, the deal is worth $1.775 billion to YouTube's founders. Eric Schmidt, Chief Executive Officer of Google stated “We are excited to have closed this acquisition in order to begin collaborating to offer the best in quality and depth of content, user experience and new business opportunities for our partners”. Schmidt added “YouTube and Google will together provide innovative and exciting services for our users that will add a new dimension to on-line media entertainment.

We look forward to working with content creators and owners to effectively harness the power of the internet to promote, distribute and monetize their content.” Schmidt closed by saying “Google’s expertise, technology leadership, and resources will provide us with the flexibility to innovate and build the best, most entertaining service on the Internet". Chad Hurley, CEO and co-founder of YouTube said "in the coming months, we will roll out many new exciting features and programs to benefit the creativity and participation of our community”.

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