SUNNYVALE, Calif. - Yahoo! announced on Tuesday that it has acquired Maven Networks, a major player in the online video marketplace, for $160 million.
Yahoo! said the acquisition would make it the leading premium video publisher on the Internet. The company claimed it has the "largest library of professionally produced, legally licensed video content."
The company also said it has advertising deals with more than 75 percent of the top television advertisers and major video producers, including Comcast, eBay, Newspaper Consortium and Forbes.com.
Maven distributes premium online video content from more than 30 major media companies, including Fox News, Sony BMG, CBS Sports, Hearst, Gannett, Scripps Networks and the Financial Times, as well as hundreds of their affiliates.
"Video is projected to be the fastest-growing segment of the online ad market, and Maven will significantly help advance Yahoo!'s strategy, expanding the video opportunity for publishers and increasing the efficiency and effectiveness for advertisers," said Hilary Schneider, Yahoo!'s executive vice president of global partner solutions. "This is a big win for publishers, advertisers, consumers and for Yahoo!."
