Out with the old: Tower Records is on its way out. Purchased by Great American, a liquidation company, as the result of bankruptcy proceedings, it outlets have already begin going-out-of-business sales and will close in a few weeks. A key part of many music geeks' music geek coming-of-age, its demise has many waxing nostalgic for a time when kinder, gentler, better-stocked chain stores ruled the land. Idolator has a nice round-up of the online sadness and confusion.

In with the new: Google has purchased YouTube for $1.65 billion, yes, billion dollars. Will they find a way to turn a profit on old Jif commercials , lip-synching teens, and cute cats? Only time will tell.