YouTube Nabs Next New Networks

Google is officially in the content business.

The Mountain View, Calif.-based search juggernaut has purchased Next New Networks, a Web video company built around developing and distributing niche content.

The move, which had been rumored for several months, places Google in a role it had sworn off for years—that of an art-driven content producer rather than an engineering-centric, content-monetization machine.

The acquisition of Next New, terms of which were not disclosed, is tied to a new business initiative being kicked off by Google: YouTube Next, which is aimed at taking the site’s content partner development to another level.

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