So say both the Wall Street Journal and New York Times, citing sources.
Some salient points:
— $1.65 billion in stock
— If the final deal is approved by both companies’ directors today, they plan to announce it after the end of the regular trading sessions of the U.S. stock exchanges… of course a deal isn’t a deal unless it is a deal.
— Under the arrangement discussed, closely held YouTube would at least initially retain a significant measure of independence, keeping its brand and offices.
— Discussions have only been on for a week.
— Yahoo and News Corp. were the other suitors.
— Sequoia holds roughly 30% of YouTube, so would get a big exit… it was an early backer of Google as well.
Staci adds: One interested party has suggested to me the Sequoia connection is what’s at work here. Sequoia’s Michael Moritz has been a Google director since 1999 while Roelof Botha and Pierre Lamond are on the YouTube board.