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.
Next New Networks aims to build internet based “micro television networks” for targeted niche communities. The concept brings together elements of traditional TV networks with Internet functionality that invites viewers to contribute, share and distribute content; think Weblogs Inc meets video blogging with an everywhere distribution model. Next New Networks is the leading provider of original, episodic series programming for the Internet. With over 1 billion views since the company’s launch in 2007, over 2 million subscribers, and some of...