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Yahoo acquires Maven Networks

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Sunnyvale, Calif.—Yahoo said Tuesday that it has acquired Maven Networks, which provides online video, for about $160 million.

The deal gives Yahoo access to video content from more than 30 major media outlets, including CBS Sports, Fox News, Gannett, Hearst Corp., Sony BMG, Scripps Networks and the Financial Times.

Yahoo said it has existing video advertising relationships with more than 75% of the top TV advertisers. The announcement of the Maven deal comes one day after Yahoo rejected Microsoft Corp.'s unsolicited bid to acquire Yahoo for $44.6 billion, saying the offer was too low.

—Matthew Schwartz

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