Wednesday, April 19, 2006

YouTube Buys TimeWarner

This is a great Dateline Hollywood spoof article on YouTube buying TimeWarner.

Four Hysterical Highlights:

1) In a surprise move, one year-old video sharing website YouTube has acquired media conglomerate Time Warner in an all-stock deal valued at $260 billion. “It’s time to shake up the stodgy old media companies that don’t ‘get’ the Web 2.0,” said YouTube CEO Chad Hurley, whose company is “technically unprofitable,” but is valued at $1.3 trillion based on the nine million teenagers per month who watch home movies made by other teenagers.
2) “I have come to realize that the future of media is not in professionals making products distributed to the masses, but in regular people uploading poorly made videos that are popular and then forgotten in a matter of days,” said Parsons. “Every division of YouTubeTW, including slow-goers such as Warner Books, will be required to submit business plans to take advantage of this exciting new technology.
3) On the Warner Bros. lot in Burbank, posters promoting such content as “ER,” “Gilmore Girls,” and “Superman Returns” have been taken down and replaced with photos of such popular YouTube clips as the two Chinese boys lip synching “I Want it That Way,” the famous “Leeroy Jenkins” clip from “World of Warcraft” and “Brokeback to the Future.”
4) “For people who say this is similar to the ill-fated purchase of Time Warner by America Online, I say they’re ignoring some crucial difference,” stated Hurley. “For one thing, AOL was profitable, which we are not. The focus on technical details like revenue was the undoing of AOL Time Warner, but we won’t make the same mistake.


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