Visitors are seen at "You Tube" stand during the MIDEM in Cannes
Visitors are seen at "You Tube" stand during the MIDEM, which is the international record music publishing and video music market, in Cannes January 23, 2011. Reuters

Google is in advanced talks to acquire video website Next New Networks, a media report said.

The internet giant plans to pay tens of millions of dollars to buy the video website and the deal is expected to be unveiled in the next week, The Wall Street Journal reported, citing a person familiar with the matter.

By this acquisition, Google is looking to add more professional content for its video site, YouTube.

Also, the acquisition is aimed at maintaining a steady stream of videos on YouTube so as to keep the viewers stay longer on the site and better compete with Hulu LLC and Netflix, the report said.

Further, the deal is expected to enable YouTube to oversee creators of digital content, besides aggregating videos created by others, it added.

Launched in March 2007, Next New Networks is one of the leading content providers to YouTube with more than 5.7 million subscribers. The video website reported 1 billion all-time video views in 2010.