FOX Networks Buys Stake In European Ad Network

Los Angeles-based FOX Networks said this morning that it has acquired a majority stake in utarget, an online advertising network based in Europe. Financial terms of the deal were not disclosed. utarget operates an ad network focused on online video. FOX said that the new unit will be rebranded as utarget.Fox, and will work with Fox Interactive Media Audience Network to provide advertising to News Corp sites and third parties. According to FOX, utarget's online video format will be offered by .FOX and Fox International Channels' online and television sales teams. utarget was founded in 2000, and will continue to be led by its founder and CEO, Phil COoper.