"Google Buys The Outliers"
October 20th, 2006
|MOUNTAIN VIEW, CA (AP), Oct. 20 -- On the heels of their purportedly game changing purchase of social networking site YouTube for a record $1.65 billion, Google today announced that they had completed a transaction for the purchase of The Outliers, a NY-based rock and blues band. Joel Rubinson, a spokeman for the band, ignored analysts' criticism of the deal by stating, "We think the deal makes perfect sense and is very consistent with Google's recent acquisition strategy. Just like YouTube, The Outliers have no obviously viable business plan, and our P&L is such that the band is very attractive to Google". While Google CEO Eric Schmidt dodged questions regarding the amount of money changing hands in the deal, rumors have pegged the all cash deal at close to $2.00. How exactly a rock and blues band will fit into Google's world is not clear, but is consistent with Google founders Larry Page's and Sergey Brin's philosophy to make deals where they see fit, even if they may seem inconsistent and far reaching by the broader markets. Speculation of how the band will be used has been heavy, with unconfirmed stories circulating this morning that two members of the band had already been digitized and were seen performing a new tune called "Google Blues" on Second Life, a 3-D virtual world on the Internet. With The Outliers scheduled to perform this evening at Desmond's Tavern in New York City, analysts and bloggers were abuzz about which version of the band - the bio or digital version - would show up. Even with news of the acquisition, shares of Google (GOOG) were unchanged in light trading today.||________________________________________________|
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