The Wall Street Journal reported Google is trying to acquire Next New Networks. The company website claims they are "the leading provider of original entertainment programming for the Internet. With the two most-viewed videos of 2010,"
"Founded in 2006, Next New Networks creates its own shows, but today a greater amount of its content comes from teaming up with other web-video creators, distributing shows through YouTube and other partners," the Wall Street Journal noted.
Interestingly, the company has over 5 million subscribers, according to the site, yet the Wall Street Journal said it "was struggling to generate meaningful amounts of revenue from advertising, according to industry executives, and recently raised $1 million in debt financing".
With the traffic volume Google would no doubt be able to use its advertising base to help solve that problem. Next New Networks works with YouTube to promote their content.
The company's "award-winning networks include Barely Political (home of Obama Girl and the smash hits "Key of Awesome," and "Auto-Tune the News"), Indy Mogul, the filmmaking network for the YouTube Generation, Channel Frederator, featuring the cartoons of over 1,000 creators, food network for the people Hungry Nation, car news network Fast Lane Daily, and Comedy Thunder, an all-new sketch comedy network. We've also re-launched DIY fashion network ThreadBanger, and spun off a sister network, ThreadBanger Style, showcasing the hottest runway trends. Throw in a our Next New Creators program, with hit shows about sports, snakes, and dating advice, and you can see there's a lot going on here."