Google is investing heavily in its media business to boost its online presence in the US and elsewhere, as it tries to expand beyond its core search and advertising businesses.
The search giant is investing $1 billion in ad-serving platforms like Amazon and Facebook and $50 million in Google+ and YouTube, the companies said Thursday in announcing its first-quarter results.
The company also will expand advertising partnerships with major news organizations, like Bloomberg, The Associated Press and The New York Times, they said.
The investment follows a $1.2 billion buyout of AdWords, the world’s largest online ad marketplace, in December, which Google said it plans to use to buy other media properties in addition to its ad business.
Google is expanding its ads buying power in the wake of its purchase of media properties such as News Corp., Time Warner, Hearst, and CNN last year.