Golden Entertainment, Inc. (NYSE: GOOG) has agreed to acquire Golden Entertainment’s stake in the search giant’s live content business for an undisclosed amount, sources familiar with the transaction told CNBC.
The deal is subject to approval by the board of directors of Golden Entertainment and the Golden Media Group, the sources said.
Golden Entertainment owns a 25 percent stake in Google News, the search company’s news service, as well as its online content delivery and publishing subsidiary, and has been an investor in Google since 2010.
Google News, which has been the platform of choice for millions of search users since 2010, has been undergoing a series of changes and improvements.
In December, Google announced that it would be buying digital news aggregator Vox Media for $2.4 billion.
The acquisition of Google News is part of Google’s continued push to diversify its business as it seeks to build its digital news business and create a more efficient distribution channel for its media businesses, which currently include Google News and Google+, its YouTube channel.
In recent months, Google has begun to expand its presence on YouTube, a platform that has been heavily targeted by social media companies such as Facebook and Twitter.
Last month, Google and YouTube began an initiative to help users see and comment on videos on their phones.