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Eric Schmidt, Google’s chief executive, is barnstorming New York this week to assure traditional media companies that the internet search company’s $1.65bn (£889m) acquisition of YouTube, the video start-up, will not turn it into a content competitor.

SAN FRANCISCO — Web search leader Google Inc.’s $1.65 billion deal to acquire Web video-sharing site YouTube.com is part of a broader strategy to invest in the emerging market online video, a top executive said Monday.