Speaking at a gathering of digital advertisers in New York City last night, Mr Schmidt refused to forecast when internet video would displace television, instead declaring: "That's already happened." "It's not a replacement for something that we know," he added. "It's a new thing that we have to think about, to program, to curate and build new platforms." YouTube recently surpassed the milestone of a billion unique users a month. Only the Google search engine and social network Facebook are frequented more often by those browsing the internet worldwide. However, the video site lags behind traditional television in the UK,...