New York
– AOL (NYSE: AOL) announced on Monday that it has acquired StudioNow, a Web-based platform
for video creation and distribution, for $36.5 million in cash and stock.
Founded
in 2007, Nashville-based StudioNow helps companies create and syndicate video
content, by connecting them to a network of more than 3,000 freelance
filmmakers, editors, animators, voice talent, writers and producers.
AOL said
it plans to integrate StudioNow into its newly-launched Seed.com content
management system, utilizing its freelance network to beef up the content on
AOL’s more than 80 websites.
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