Sony Pictures Entertainment Acquires Grouper
Sony in Deal to Acquire a Video Site
Sony Pictures Entertainment (SPE) has acquired Grouper, the fast growing user-generated video site on the Web.
Grouper.com, the second largest independent video community, enables its members to watch, share and create video on the Web. Under the terms of the $65 million deal, the Sausalito-based company will retain its current management, working closely with a team at Sony Pictures.
I was an early adapter of Grooper as with many of these Web 2.0 sites, but will I be getting a check in the mail? - Username - Paul
Consumers are spending more and more time on sites like Grouper, and as one of the world’s largest creators of entertainment, we want to be where the audiences are. This acquisition demonstrates the breadth of involvement of Sony Corporation in the field of digital online entertainment. Many people in the Grouper community use Sony cameras to create videos and Sony VAIO computers and mobile devices to store and view them. It makes sense to complete the circle by having Grouper be a part of Sony Pictures Entertainment, which itself creates so much content for people around the world. - Michael Lynton, SPE Chairman and Chief Executive Officer.