Idolator

Hours after the video-sharing site YouTube announced that it would be making content from both the Universal Music Group and Sony BMG available—in exchange for "compensation to the companies and their artists"—Google announced that it would be purchasing YouTube for $1.65 billion. What does this mean for the consumer? More user-generated video contests, of course—and enough space to host every single version of Yes' "Leave It" video.

UPDATE: It's just been brought to our attention that the members of Yes have had every version of "Leave It" removed from the site; additionally, every other music video ever made has been pulled, along with numerous clips of a dog head-butting a man in a crotch, the opening credits to Cop Rock, and everything else that made YouTube anarchic and fun in its pre-conglomerate days.

Or at least, we're pretty sure that's all gonna happen soon.

Google To Acquire YouTube For $1.65 Billion [AP via NYT]
YouTube Pacts With UMG, Sony BMG [Hits Daily Double]