Just in—Google bought YouTube for $1.65 billion in a stock-for-stock transaction. After the acquisition, YouTube will operate independently in order "to preserve its successful brand and passionate community." Press release was issued 5 hours ago.

Interestingly, ShoeMoney announced that Google would acquire YouTube on Friday, October 6th. The actual press release was issued today—Monday, October 9th.

Somehow, the news leaked.

Looking at the stock chart, you can see the news leak there too. GOOG's stock moved up significantly on Friday, and gapped up Monday morning. Wednesday was the first large move—in all likelihood based on insider knowledge of the upcoming deal.

Disclosure: I do not own stock in GOOG, but nevertheless, it's interesting to see the effects of news leaks (and news in general) on stock prices.