CBS Would Rather Buy The “Next YouTube” (Wouldn’t Everyone?)

CBS wants to buy the next YouTube, said CE Leslie Moonves at an RTS event in London last night. But he ruled out YouTube itself despite “being spotted chatting” to founder Chad Hurley earlier this year. He’s not sure about investing in social nets, saying that besides News Corp. buying MySpace, some rivals have made very questionable acquisitions. “I do not rule out our ability to buy one, but when you see the price YouTube is now demanding it is pretty phenomenal. Maybe we would look for the next YouTube, the next great idea that’s not spread across the world.” CBS has discussed supplying bundles of news and sports clips for YouTube, he said.
NBC hooked up with YouTube back in June to promote SNL’s Lazy Sunday show, also putting ads on the site and promoting it on TV – as we noted.
FT: In reference to Tom Freston’s removal as CEO of Viacom, which was blamed in part on his failure to buy a social networking site to rival News Corp’s MySpace, Moonves added: “Do I wish I owned [MySpace?] Sure. Fortunately, it wasn’t something I was negotiating for at the time.”
Related: Fall TV Online: CBS-WBTV-Google; NBCFirstLook.com, NBC 24/7
TV Studios On The Impact Of Digital

This article originally appeared in MediaGuardian.

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