twitch-tv-21News coming in is that Google’s own video service subsidiary YouTube has apparently reached a deal with San Francisco-based videogame stream service Twitch, reportedly set to buy the latter for an estimated $1 Billion Dollars.

Twitch is one of the first websites that allow users to host live-streaming videos, including live gameplay from consoles like the Microsfot Xbox One and Sony Playstation 4.

Gaming tournaments such as the annual EVO Fighting Game Series have also been held on the site, with various channels also being hosted by known gaming news companies such as Gamespot and Joystiq.

Negotiations are still in their early stages. However, YouTube is seemingly not backing down from its intent to acquire Twitch, seeing the potential the company has as a streaming service with the growing popularity and position it has with next-generation gaming.

At the moment, YouTube is the most popular video-sharing website in the world, which allows people to view, upload, and share videos with anyone in the world wide web.

Google then bought the company in 2006 for $1.65 billion dollars, and in addition to displaying individual and user videos, also broadcasts licensed and corporate-media content which range from clips from music and movies to educational and tutorial services.

Source: GMA News