YouTube has acquired the New York City-based Internet television company Next New Networks.
Next New Networks produces original programming and helps video creators distribute their films and find advertising.
Next New Networks was launched in March 2007. It is home to online television networks such as Barely Political, Channel Frederator, Fast Lane Daily, and Indy Mogul, among others.
By the end of 2010, the company had the top two most watched videos in the world on YouTube.
However, YouTube has stressed that the acquisition does not mean that it was getting into content creation.
Newly created YouTube Next team director Tom Pickett said Next New Networks built a highly effective Web programming platform that has served up more than two billion videos and attracted six million subscribers.
"Next New Networks will be a laboratory for experimentation and innovation with the team working in a hands-on way with a wide variety of content partners and emerging talent to help them succeed on YouTube," Pickett said.
Financial terms of the deal were not disclosed.
