Next New Networks SEC Filing Hints at Finalized YouTube Buyout

Google’s YouTube is reportedly in talks to buy Web content producer Next New Networks, and the New York-based startup has just filed with the SEC in relation to $19.4 million in equity financing – basically confirming they’ve been bought out by YouTube.

NNN also raised $1 million in debt funding last year when YouTube acquisition rumors starting flying.

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

According to the Wall Street Journal at the time (last year), a deal between YouTube and Next New Networks worth “tens of millions of dollars” was likely to be announced soon.

And now, in the SEC filing, a crucial statement included pretty much clinches the idea that a deal has been made: “The securities contained within this filing were offered and issued in connection with several distinct transactions between 2007 and 2010. No individual offering lasted more than one year.”

Since the date of the first filing was in May 2007, and the filing is marked to come in relation to the acquisition of securities (key word here: securities, as noted above in the statement), it pretty much means that the Google/YouTube – Next New Networks deal has been completed.


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Categories: Deals and Finances

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