Sony Acquires Grouper Video Sharing Siteby Lee JonesPublished on Aug 23, 2006 8:00 AM |
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August 23, 2006 - Sony is making moves to enter the rapidly expanding arena of online video sharing. This week the company purchased Sausalito-based Grouper Networks for $65 million. Grouper.com, according to Sony’s press release, is second-largest online video sharing site, after Youtube.com.
Grouper currently offers hosting and editing tools for users to assemble and upload their videos. “Consumers are spending more and more time on sites like Grouper,” said Michael Lynton, Sony Pictures Entertainment Chairman and CEO, “and as one of world’s largest creators of entertainment, we want to be where the audiences are.”
Sony is likely to use Grouper as a means of marketing and distributing a portion of their massive output of music, film, and television. In May, Grouper counted 8 million unique visitors per month. Sony has stated that it has no immediate plans for changes in the site and Grouper’s management team will remain as is.