Viacom's Acquisition of iFilm Nears Completion

Viacom is close to wrapping up their previously reported acquisition of iFilm, the online short film and entertainment portal, ZDNet reports. The deal, which is hovering around the $50 million mark, is entering the shareholder approval stage.

This looks like a good fit for Viacom -- not only do they get a piece of the burgeoning online advertising market, but the acquisition also bodes well for Movie and T.V. Marketers at Viacom's own properties like Paramount and MTV. iFilm doesn't have anywhere near the profile or traffic of Time Warner's Moviefone, but if you annualized iFilm's 4.2+ million monthly visitors, you're looking at around 50 million yearly visits -- a very sizable audience, with much of it in the juciest demographics. The deal looks like it's coming in at one dollar per annual visitor -- It would be interesting to know what iFilm's average revenue per visitor is...


[Via ZDNet]