Info-tech

Google in talks to buy Next New Networks: Report

| | Updated on: Feb 11, 2011

Google Inc is in advanced stage of talks to buy video website Next New Networks Inc, says a media report.

“Google Inc is in late-stage talks to acquire video website Next New Networks Inc,” The Wall Street Journal reported citing a person familiar with the matter.

A deal could be unveiled in the coming week, the report added.

The report said that the internet giant is expected to pay in tens of millions of dollars for the company, seeking to acquire some expertise in landing more professional content for its video site, YouTube. Google is already dominant in Web video through YouTube.

An acquisition of Next New Networks would mark YouTube’s latest effort to encourage and maintain a steady stream of videos to keep viewers on the site longer and to better compete with Hulu LLC and Netflix Inc, which offer more content from big media companies, the report pointed out.

A deal would also put YouTube into the business of overseeing creators of digital content in addition to aggregating videos created by others, it added.

Founded in 2006, Next New Networks creates its own shows, but nowadays a greater amount of its content comes from teaming up with other web-video creators, distributing shows through YouTube and other partners.

Next New Networks is believed to have over five billion subscribers.

According to the publication, a Yahoo’s spokesperson declined to comment.

Published on February 11, 2011

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