Fox Interactive Media Creates Advertising Network

Los Angeles-based Fox Interactive Media said late Thursday evening that it has created a new advertising network, focused on its own web sites and third party publishers. According to FIM, the new unit, Fox Interactive Media Audience Network, will be headed by Adam Bain, formerly the firm's EVP of Technology and Production. The new unit will be based out of Santa MOnica. According to FIM, the new unit will combine its advertising technology, ad operaitons, and performance sales efforts; the unit will sell performance-based ads for Fox Interactive Media--including third party sites. FIM said that it will also continue to work with third party ad networks to sell its advertising inventory. Bain joined Fox Interactive Media from the firm's acquisition of yield optimization firm Strategic Data Corporation in 2007.