Viacom may have its eye on iFilm

Iria · Sep 23, 2005, 01:35 AM

Viacom is expected to finalize a deal to buy video-on-demand Web site iFilm for $50 million in the next two weeks, according to people familiar with the matter.

The proposed deal would give the media conglomerate further exposure to a growing online advertising market. iFilm.com, which hosts a collection of short video clips, TV show segments and movie trailers, has attracted rising numbers of Web surfers and commercial TV advertisers with the widespread adoption of broadband access to the Internet, according to the company.

Viacom, which will split into two publicly traded entities early next year, owns CBSNews.com, Neopets, MTV.com and Bet.com, among other Web properties. People familiar with the deal expect iFilm to remain under Viacom, which will be headed by Tom Freston and include MTV Networks and Paramount Pictures. A separate entity, called CBS Corp., will be led by Leslie Moonves and comprise CBS and UPN broadcast networks.

iFilm declined to comment, and Viacom did not immediately respond to request for comment. Word of the talks was reported by PaidContent.org earlier this week.
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Read More / Source: News.com

Sep 23, 2005, 01:35 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Viacom may have its eye on iFilm Viacom is expected to finalize a deal to buy video-on-demand Web site iFilm for $50 million in the next two weeks, according to people familiar with the matter. The proposed deal would give the media conglomerate further exposure to a growing online advertising market. iFilm.com, which hosts a collection of short video clips, TV show segments and movie trailers, has attracted rising numbers of Web surfers and commercial TV advertisers with the widespread adoption of broadband access to the Internet, according to the company. Viacom, which will split into two publicly traded entities early next year, owns CBSNews.com, Neopets, MTV.com and Bet.com, among other Web properties. People familiar with the deal expect iFilm to remain under Viacom, which will be headed by Tom Freston and include MTV Networks and Paramount Pictures. A separate entity, called CBS Corp., will be led by Leslie Moonves and comprise CBS and UPN broadcast networks. iFilm declined to comment, and Viacom did not immediately respond to request for comment. Word of the talks was reported by PaidContent.org earlier this week. ___________ Read More / Source: News.com