Fox Online Ad Network Buddies Up With Utarget
For quite some time now, News Corp has owned Fox International Channels, and it, in turn, has overseen .Fox Networks. Only the chain got extended today, as .Fox Networks bought a majority stake in Utarget.
Advertising is the name of the game here, and more specifically, advertising of the outside-America sort. Utarget is based in the UK, and tends to serve European markets; .Fox Networks operates in Europe, Asia, and Latin America. Together, they should reach something in the neighborhood of 70 million users per month worldwide.
It remains unknown how much .Fox Networks paid to bring the combination about, however. Robert Andrews reports, "The acquisition price is undisclosed and is under the threshold at which News Corp would be compelled to give the figure, though .Fox Networks (‘dot fox’) president Hernan Lopez told me Utarget is getting ‘a reasonable multiple’ based on its revenue ‘north of 5 million’ ($9.9 million) from the last 12 months."
We’ll just have to see if that figure is released in time. It’s a sure thing, at least, that .Fox Networks picked up exactly 56 percent of Utarget.
Also, count on seeing the division renamed as Utarget.Fox in the future.