Update – 10/9/2006:
It has now been confirmed that Google has acquired YouTube for $1.65 billion.
More information about the sale can be read at TV Week.
Google is reportedly interesting in purchasing the online video sharing community for $1.6 billion, according to a report in the Wall Street Journal this morning.
Considered the most popular and perhaps the most frequented online video sharing community on the web, 34 million unique visitors a month, YouTube would make a worthy purchase for any company willing to spend the money required.
Google had no comment.