You Tube being purchased by Google

You Tube, the popular web site founded in February 2005 and on which more than 100 million short videos are downloaded every day, has quickly become an Internet phenomenon. So much so that Google, the Internet's leading search engine, announced earlier today that it is buying You Tube for $1.65 billion - with a B - in stock.

Many people locally regularly check out You Tube and some, including Eye on Oshkosh co-host Tony Palmeri, regularly feature short videos downloaded from You Tube on their own web or blog sites. Tony's blog can be found at http://www.talktotony.blogspot.com.

You can read the entire story about You Tube's rapid growth and its impending sale in the latest online issue of CNNMoney.com.