Google has purchased popular video sharing site YouTube.

The site, though unprofitable, had a significant chunk of the online video sharing market and is home to both legal and illegal material from television clips to music videos to the strange results of $100 video cameras.

This leaves Google in a potentially risky situation, since YouTube had been targeted for infringement lawsuits by Universal Music, but lacked any real assets to sue for. Universal has since signed a deal with the company, but there are still other content providers to be concerned about.

The site has been partnering with record labels including Warner,Universal, Sony BMG, CBS and more to provide legal music videos and has been used by many indie labels for legal distribution as of late.