Yahoo's acquisition of Cambridge, Mass.-based Maven highlights the growing importance of online video and Yahoo's efforts to broaden its advertising network amongst news that Microsoft proposed a merger deal that would better position both companies to do battle against Google and Youtube.
In a statement, Yahoo said the acquisition will help the company expand "the video opportunity for publishers" and increase "the efficiency and effectiveness for advertisers."
Yahoo said it has video advertising relationships with more than 75% of leading TV advertisers, and with other "premium" publishers such as eBay Inc. Maven's platform is used by other major media companies, including Fox News, Sony BMG and CBS Sports.
"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," Yahoo said.
The companies said Maven helps professional media companies quickly and easily create, distribute and profit from direct-to-consumer Internet TV channels and networks. The Maven Internet TV Platform is used by organizations that include CanWest, CBS Sports, CBC, CNET, Gannett, The Financial Times, Fox Business Network, Fox News, Hearst, MediaNews Group, Ogilvy, Scripps Networks, Sony BMG, Sony Pictures Television, and TV Guide.