The Cincinnati Post today reported that CBS is interested in acquiring its own YouTube. The article reported that:
“We’re not going to buy YouTube,” CBS Corp. Chief Executive Leslie Moonves said, referring to the wildly popular video-sharing Web site that Google Inc. agreed to acquire last month for $1.65 billion, “but it’s not a bad idea to buy the next YouTube.”
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.
It is unclear from the article whether CBS in interested in a file sharing service or wants its own copyright violating service! If it is the former, then we can save CBS millions in investment bankers fees, by pointing them to the new YouTube, Metacafe.
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