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CNET: Viacom to Acquire Online VOD Service, iFilm

Authored by Mark Hefflinger on October 13, 2005 - 4:28am.
Los Angeles – Viacom International is expected to acquire iFilm, an online video-on-demand service, CNET News.com reported on Wednesday. According to people familiar with the matter, shareholders of privately held iFilm received a letter in the last week announcing the anticipated buyout by Viacom and seeking their approval. The proposed deal, which is expected to be worth about $50 million, would bolster Viacom’s online entertainment presence by providing an outlet for video content from its many traditional entertainment companies, including MTV Networks and Paramount Pictures, and increased revenue from online advertising. Los Angeles-based iFilm offers channels of movies, short films, TV clips, video-game trailers, music videos, and action sports.
tags: CNET | Viacom | IFilm | Online VOD Service |