YouTube fires $200M broadside at Big Media
When Google bought YouTube in 2006, CEO Eric Schmidt described it as "the beginning of an Internet video revolution." At the time, there was no shortage of skepticism over whether Google had instead just committed a $1.6 billion mistake.
Some say there's still no clear answer. Google has never said whether YouTube is profitable. A couple of years ago, Schmidt said he believed that YouTube would be profitable that year, but there's been not a peep since.
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