Monday, October 17, 2005

MTV Buys IFILM

VIacom's MTV Networks said late Friday that it has acquired Santa Monica-based IFILM, an online provider of videos and video content. MTV will pay $49M for the web site. MTV said that it was expanding the site to expand its position as one of the top entertainment networks on the web, and that it saw significant opportunities for MTV to increase its online advertising revenue. IFILM will continue to be run by CEO Blair Harrison and will continue to be based in Hollywood. The companies report that IFILM reaches over 10 million users a month with its video programming. IFILM's web site provides user generated videos, short film clips, movie trailers, music videos, and other streaming video for broadband users. More information »