How Will Google (GOOG) Stock React To This Billion Dollar Purchase?

NEW YORK (TheStreet) -- Google (GOOG) will buy live video game-broadcast streaming service Twitch for $1 billion, according to a VentureBeat report.

Twitch currently has over 50 million monthly users including 1.1 million who broadcast their gaming activity on the site. 

Google's YouTube division will be heading the purchase, according to VentureBeat sources.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Google shares are down -0.5% to $590 in early market trading on Friday.

GOOG ChartGOOG data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists