YouTube to Acquire Video Game Streaming Site Twitch For $1 Billion

Google's massive video portal YouTube has reached a preliminary deal to buy Twitch, a popular video game streaming service, for more than $1 billion, Variety reports. The deal, in an all-cash offer, would be the most significant acquisition for YouTube since Google acquired the site in 2006 for $1.65 billion. Twitch lets users upload and watch free, live gameplay videos that can be streamed from Microsoft Xbox One and Sony PlayStation 4 consoles. The site also sells a monthly, ad-free subscription and subscriptions to individual channels for about $5 per month. The company claims 45 million monthly users, with more than 1 million members who upload videos each month. It also has deals to distribute shows from partners including CBS Interactive's GameSpot, Joystiq and Destructoid.