CBS Wants to Buy "The Next YouTube."


Interesting article in the Cincinnati Post today about CBS shifting more focus to the Internet:

Today, CBS is to announce that it has hired a 35-year-old investment banker, Quincy Smith, to find the "next YouTube." The move demonstrates that CBS, which is sitting on a stockpile of $3 billion in cash, is eager to make acquisitions to better position itself in digital media.Full Story

When you look at this story along with NBC's recent knee-jerk decision to slash TV staff and "focus on the internet" (Link) it doesn't paint a pretty picture for the old guard media companies.

It would be encouraging if these guys seemed to have a coherent strategy for moving into the online space, but hoping to "buy the next YouTube" is really a wish more than a strategy. I doubt they're going to be able to 'buy' their way our of this current paradigm shift.


They should...

just buy the original one

Reminds me of what happened

Reminds me of what happened when Disney(?) bought Infoseek. (Dead search engine, but one of the most popular in the 90's.)

what an original idea

Hmmm.. just got the Invention of the Year by Time magazine...

@CBS ...where is the original ideas in these corporate offices [rolls eyes]

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