In announcing the deal, .Fox Networks -- a unit of Fox International Channels -- said the purchase will give extra opportunity for video advertising to News Corp.-owned sites, third-party publishers, and advertisers. Hernan Lopez, president of .Fox Networks and COO of Fox International Channels, wouldn't reveal the terms of the deal other than to say "it's a low-eight figure number."
Utarget, Lopez said, is a leader in the use of pop-under video for online advertising. "Pop-unders are the most effective online ad format, bar none," he said. "Utarget pioneered the technology of putting a video player on a sub-site. The advantage that brings to a Web site publisher is that it allows them to capitalize on the growth of online video ads without having to invest in online video content."
Phil Cooper, utarget's founder and CEO, will remain in charge of the company that will now be called utarget.Fox. The new entity will work with the Fox Interactive Media Audience Network to "pursue network advertising relationships with News Corp sites and other third parties, further bolstering News Corporation's efforts in the online advertising space," explained the acquisition announcement.
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