AOL buys online video creation manager StudioNow for $36.5 million
By APMonday, January 25, 2010
AOL buys online video company StudioNow for $36.5M
NEW YORK — AOL says it is boosting its ability to create Web videos by paying $36.5 million for StudioNow, a Web site that lets companies buy custom-made online videos from a network of freelance filmmakers.
AOL Inc. will merge Nashville-based StudioNow Inc. into its own content management system, Seed.com, which has aggregated assignments for writers and photographers.
The deal closed Friday, New York-based AOL said. It paid a combination of stock and cash, with some of the cash being paid out over several years.
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