im pretty sure in youtubes conditions it says that each video uploaded is owned by the uploader or something like that so they cant be sued because its the responsibility of the uploader
I live in Australia and it was on the news that it was sold for 2 Billion which would probably be AUD. So it's probably around 1.65 US.
I think this transaction took place, and now youtube is a part of google. http://www.abc.net.au/worldtoday/content/2006/s1760064.htm