"MTV Networks on Thursday said it acquired IFILM, an Internet provider of short films, news clips and other video snippets, for $49 million (£28 million) as part of its ongoing effort to expand its presence on the Web. IFILM will be run by its current chief executive officer, Blair Harrison, and will retain its editorial independence," reports Reuters.
"MTV expects to increase IFILM's current reach to more than 10 million users a month and boost advertising revenues by promoting IFILM with other MTV-owned Web sites and offering MTV content to IFILM users."
