CALIFORNIA: Sony Pictures Entertainment has announced the $65 million (€50.7m; £34m) acquisition of US online video service Grouper Networks.
Sony Pictures ceo Michael Lynton foresees a number of possible uses for Grouper, from online distribution and promotion of its films and TV programmes to serving as a pipeline for new ideas and creative talent.
Sony says it plans to make minimal changes to the video site to boost advertising revenue, perhaps by following the lead of rival YouTube.
Grouper, like YouTube, attract millions of surfers with a smorgasbord of short clips including home video of cuddly puppies, wince-inducing stunts and bootlegged snippets of TV shows and movies.
Data sourced from Financial Times online; additional content by WARC staff