Sony Enters the Social Media Scene
LOS ANGELES, August 24, 2006, (PodTech News) — Sony Pictures Entertainment announced a $65 million deal Wednesday to acquire Grouper Networks Inc., putting the media company in play in the viral media space. The acquisition brings together one of the largest movie studios (and its many divisions) and a Web site that provides free access to user-generated content. Within hours of the announcement, the Web was rife with speculation about what really prompted the deal and whether or not Sony paid too much. PodTech’s Matt Kelly spoke with Sony’s Sean Carey, executive vice president of digital distribution and acquisition. He also heard from Steve Anderson and Chris Swain, both from USC’s School of Cinema-Television.
Reporter’s Notes: My thanks to my guests, Sean Carey of Sony Pictures Home Entertainment, who took time out of his very busy schedule to speak with me by cell phone while traveling, and to both Steve Anderson and Chris Swain of USC’s School of Cinema Television, who spoke with me during a hectic 1st week of the new semester.
Online chatter puts YouTube’s valuation somewhere in the mind-boggling $1-2 billion neighborhood (at least today). For more, check this out.
– Matt Kelly
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