Google Really, Officially, Finally Is A Media Company (GOOG)

In case you still had any doubts, Google is now OFFICIALLY a media company.

YouTube just finally closed its acquisition of Next New Networks, a NYC-based startup in the online video production industry.

However, the New York Times says that Google will be creating "minimal" original programming, focusing on building out its platform and letting YouTube partners make the content.

The idea is to create more professional content that can draw repeat, longer-term viewers, instead of just the "dog on skateboard" stuff, music videos, and pirated TV clips that represent a lot of YouTube traffic today.

To that point, Google also announced a new program called "YouTube Next" that will give video producers grants and training.

YouTube did not announce the deal's terms, but the acquisition price was likely small. Next New Networks had raised $26 million.

Read more: http://www.businessinsider.com/google-next-new-networks-2011-3#ixzz1Fz1NUmXe