Internet giant Google set to swoop on YouTube

Google, the internet search giant, is reportedly in discussions about an 855m swoop for video-sharing site YouTube.

The Wall Street Journal reports that talks between the two companies are ongoing, although both sides have refused to comment.

California-based YouTube was founded in February last year and has rapidly become one of the most popular websites, with 100 million videos viewed daily.

Chief executive of YouTube Chad Hurley has stated this year that the company is not for sale, but Wall Street analysts are convinced a deal could be struck later this week.

Bankers say an early purchase by Google would stave off an auction for YouTube by rivals including Yahoo!, Time Warner and Disney.

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