Rumour: Time Warner to buy Joost

Warners rumoured to be buying internet TV specialists Joost
Warners rumoured to be buying internet TV specialists Joost

According to latest reports, a number of major US media outlets – including Time Warner – are considering buying internet TV company Joost.

Joost, launched by the founders of Skype and Kazaa, is soon to finalise a deal with a buyer, according to an unnamed source on CNet.

While it was surrounded by considerable hype upon launch back in 2007, Joost has singularly failed to win considerable support from content-providers or from advertisers and, as such, has faded into the background over the last year.

Sony slaps down Joost

"The firm was recently slapped in the face by Sony Pictures, which decided against renewing its contract with Joost this April," reports The Register, "while merrily inking a deal to provide full-length films on YouTube."

Joost's co-founder Mike Volpi noted on the Joost blog that traffic was up to a not-to-be-sniffed at 15 million video views in March, following Joost dropping its P2P application and opting for an in-browser player.

"We're not close to being done yet, and nothing, not brain-eating aliens, not cats on skateboards, and not rumors or speculation, will keep us from continuing on our mission to bring video to you over the internet," noted Volpi.

Stay tuned for updates and check Joost's website if you fancy watching the first three classic seasons of Paul Abbot's wonderful Shameless!

The Register via CNet

Adam Hartley