While Google’s YouTube is reportedly in talks to buy Web content producer Next New Networks, the New York-based startup has just raised $1 million in debt financing. According to this SEC filing, the fledgling company is raising a round totaling $1.2 million.

      Listed as investors are Ross Levinsohn from Fuse Capital, Bijan Sabet from Spark Capital, Goldman Sachs and Saban Capital Group.

      The potential acquisition of NNN, which also manages a network of independent filmmakers alongside producing its own channels, would give YouTube its first step into producing Web videos in-house.

      This would be not only a shot in the arm for the video sharing site proper – upping its ability to squeeze more advertising dollars out of the popular service – but also for Google TV.

      As for now, those are just rumors. The funding round, though, is fact.

Source from TechCrunch