Google Looking To Buy Next New Networks

Google is reportedly on the verge of acquiring online video company Next New Networks in its attempts to increase YouTube's revenue and attract more users.

Citing people familiar with the matter, the Wall Street Journal reports that Google, which is expected to pay tens of millions of dollars to buy the company, could announce the deal sometime next week.

According to its website, New York-based Next New Networks is a "leading provider of original entertainment programming for the Internet" known for creating its own programmes, as well as working with partners to create and promote content via YouTube.

With the acquisition, Google is looking to offer more professional content on YouTube in addition to its supply of user-generated videos that have made the platform so popular.

The search giant hopes this will keep users hooked to the platform for a longer duration, and allow it to compete with the likes of Netflix and Hulu, which offer content from major media houses.

The deal would allow Google to both control the creators of the videos and handle videos uploaded by users at the same time.