If they did that they'd probably combine the sites and phase out twitch and you can just stream on youtube and it'll automatically upload the video to your stream. However yes they'll probably be cracking down on copyright stuff.
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Their comes a point as with everything when someone goes to far, google is on a warpath destroying taking companies left, right and centre, and twisting them into crap, not because its good for us but because google needs to devour good things for its stupid reputation to last any longer, mainly because it sucks.
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Relevant eSEX article :D
However I can't watch twitch then anyways since the GEMA is going to take everything down :(
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"ESEX interviewed a veteran of two Twitch Plays Pokemon campaigns, who added, 'left, left, right, A, A, B.'"
Hue.
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Nothing related to Twitch, but there's also this news: Twitter is considering purchasing SoundCloud
All good companies will be bought by other biggest companies, sooner or later. :(
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For those asking about the story today, Twitch doesn't comment on rumors.
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