• December 14, 2004

Google Inc. announced Tuesday that it will digitize some of the world's most renowned libraries. Google has signed exclusive agreements with The University of Michigan, Stanford University, Oxford University, Harvard University, and the New York Public Library to digitize the content in their libraries.

The search company said it will pay for the project, but did not comment on the expense. Librarians estimated that the cost for digitizing millions of volumes would be between $10 to $20 per book.

In separate reports, analysts said the project could potentially take as long as a decade to complete. Following the news, Google shares rose more than 8 percent on Tuesday to $178.69.

--Ross Fadner