Feeds

AOL seeds future with video buy

Finds $37m after December layoffs

The next step in data security

Still-existing web outfit AOL has spent $36.5 million to acquire StudioNow, a Nashville-based startup that builds online video platforms for other companies.

AOL intends to work StudioNow's mojo into Seed.com, the company's media clearinghouse launched last year shortly after the 26-year-old internet company was spun-off from media giant Time Warner.

Seed.com solicits, buys, and distributes topical online content from freelancers across all of AOL's properties. StudioNow will contribute to AOL's in-house video work as well as advertising and content partners.

"Premium original video creation is a fundamental part of AOL's strategy to offer consumers world-class, stimulating content at scale and the integration of StudioNow into Seed.com will enable us to increase our video content/offerings significantly," Tim Armstrong, AOL chief executive and chairman, said in a statement (that really should have been two separate sentences for clarity's sake).

StudioNow will also continue to develop its existing business of selling online video creation and distribution platforms for commercial companies.

The acquisition of StudioNow closed on January 22 and valued at $36.5m in cash and stock, with a portion of the legal tender paid out over "multiple years."

In December, AOL announced plans to lay off about 1,400 employees after it failed to reach its goal of convincing 2,500 staff to take voluntary redundancy. Only about 1,100 workers took the voluntary redundancy plan, leaving AOL with the task of passing out pink slips to the rest.

No word as to the fate of StudioNow's crew. ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.