Fox Networks goes for a majority stake in European video ad network Utarget

Fox Networks, a year-old Web-based advertising network, has bought control of Utarget, a European video ad network. This is seen as part of a move by Rupert Murdoch’s News Corp owned Fox Networks to expand its reach in Europe as well as Asia.

Fox Interactive Media’s Internet unit oversees popular social networking site MySpace. Now, Fox has embarked on an expansion plan outside the US since its founding a year ago from the coming together of two Latin American online ad networks; Directa and Click Diario. The low-profile division of Fox International Channels is being perceived as a launching pad for MySpace group’s global march as it looks to generate more ad revenues from its roughly 110 million monthly unique visitors across the world. Fox is looking to leverage unsold ad inventory across a network of sites, owned by it and third-party sites, to advertisers outside the US.

Utarget runs an online video ad network inclusive of over 630 web sites. It generates most of its revenue in the UK. It also has an office in Germany, the firm stated. Its online video ad product allows advertisers to run video advertisements in a separate window that are displayed beneath the page being viewed.

Chief operating officer of Fox International Channels Hernan Lopez stated:

We at News Corp always try to ensure that no two divisions are doing the exact same thing.

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