Viacom expected to close iFilm merger deal
Stefanie Olsen writes in C|Net News:
Viacom International and iFilm are expected to close a merger agreement this week, according to people familiar with the matter.
Shareholders of privately held iFilm, a video-on-demand Web site, received a letter in the last week announcing the anticipated buyout by media conglomerate Viacom and seeking their approval. The deal is expected to be worth about $50 million, according to sources.
As previously reported, the proposed deal would give Viacom further exposure to a growing online advertising market. Also, it would provide an online venue to feature video content from its many traditional companies, including MTV Networks and Paramount Pictures.
posted by Fergie @ 10/12/2005 05:27:00 PM
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