News Corp.’s .Fox Buys Majority Stake in uTarget
ADOTAS – Nursling interactive advertising network .Fox Networks, announced today that it acquired a majority stake in European ad network uTarget, which specializes in high-impact formats like online video and banner-pop-under ads.
News Corp.’s .Fox said it bought the majority stake as part of a strategic move to expand into Europe and Asia – the next, growing frontier of online advertising. .Fox has been expanding outside the U.S. since its launch a year ago.
The unit, which will be re-branded as utarget.Fox, owns Britain’s Premium Video Advertising Network comprised of more than 600 U.K. Web sites. The new unit will work with the Fox Interactive Media Audience Network to grow ad deals with other News Corp. sites (like its MySpace media group) and third parties, helping to bolster the company’s attempt to bolster its bottom line in the interactive ad arena.
“FIC’s television sales teams, which represent .FOX Networks around the world, are known for measurable brand solutions. With utarget.Fox, we can now offer innovative, brand-safe online video formats that advertisers can plan jointly with their TV buys,” said Hernan Lopez, president of .FOX Networks and COO of Fox International Channels, in a statement. “At the same time, the combination will add value to publishers, by giving them access to FIC’s and .FOX’s international advertiser base even if they don’’t have video content.”
The deal comes on the heels of Fox Interactive Media’s decision last week to revamp its Internet division in the wake of projected revenue shortfalls.
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