Sony Pictures Entertainment today is expected to join Hollywood’s new-media mash-up by buying online video service Grouper Networks Inc.
With its $65-million acquisition of Grouper, the movie and television unit of Sony Corp. becomes the latest traditional media company to vie for a growing — and potentially lucrative — Internet audience that prefers its entertainment short and, often, stupid.
Video-sharing sites such as Grouper and category leader YouTube Inc. attract millions of viewers with a smorgasbord of short clips including home video of cuddly puppies, wince-inducing stunts and bootlegged snippets of TV shows and movies.
Grouper draws a fraction of the monthly visitors of YouTube, but analysts said YouTube’s price was probably too high to justify the risk. Both companies are privately held.
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never heard of it but that doesnt suprise me. Anyone else wonder how sony can buy a company when every division they have except videogames is loosing money???