updated - August 11, 2020 Tuesday EDT
Facebook is giving Youtube more reasons to look over its shoulder as the social media network is increasingly becoming a viable outlet for online video ads that have been dominated by Google's video arm.
The Walt Disney Co. announced Monday it will buy YouTube channel operator Maker Studios for $500 million. The deal takes place as Disney is looking to keep younger viewers, since more kids are watching shorter videos online.
Warner Bros. is investing $18 million in Machinima Inc., a YouTube network that lets users watch, share and create video-game content. Machinima announced the deal on Monday, and previous investors Google, Redpoint Ventures and MK Capital will be participating.
Turkey’s Prime Minister Tayyip Erdogan has threatened to ban Facebook and YouTube after leaks were released online that revealed alleged government corruption and misuse of public funds. Erdogan stated the ban may take place if he wins the local elections this month.