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Next New Networks Raises $1 Million Amid YouTube Acquisition Rumors

December 29th, 2010 12:12 admin Leave a comment Go to comments

While Google’s YouTube is reportedly in talks to buy Web content producer Next New Networks, the New York-based startup has just raised $1 million in debt financing. According to this SEC filing, the fledgling company is raising a round totaling $1.2 million.

Listed as investors are Ross Levinsohn from Fuse Capital, Bijan Sabet from Spark Capital, Goldman Sachs and Saban Capital Group.

The potential acquisition of NNN, which also manages a network of independent filmmakers alongside producing its own channels, would give YouTube its first step into producing Web videos in-house.

This would be not only a shot in the arm for the video sharing site proper – upping its ability to squeeze more advertising dollars out of the popular service – but also for Google TV.

As for now, those are just rumors. The funding round, though, is fact.

Source: Next New Networks Raises $1 Million Amid YouTube Acquisition Rumors

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