Hot off the presses from both MSNBC and Fox News, it appears that the acquisition of YouTube by Google is official. Google, in its largest purchase in its 8 year history, agreed to buy YouTube for an estimated $1.65 billion dollars. YouTube has yet to turn a profit, but no doubt they did today. Under the agreement, YouTube would retain its 67 employees and branding. Head on over to the above news services for the latest details.
EDIT: CNN also has a pretty good read on the acquisition as well.