Top two Chinese video sites (Youku & Tudou) Merge in huge deal

Just to create an analogy for people not familiar with Chinese web, imagine if there were 2 Youtube's in the US who were both far ahead of the competition but neck-and-neck with each other... and then one-day one acquired the other.

The deal is that big. Youku/Tudou is now THE video site of China's 1.6billion+ population.