• by Mark Walsh  @markfwal, August 21, 2006

Catching up with the online video craze, satirical newspaper and Web site the Onion has launched a Web video initiative.

Earlier this month, The Onion ran an ad on Craigslist seeking upaid editing interns for its video project. Among other qualifications, the ad called for applicants familiar with Final Cut Pro editing software and "The Onion's style of comedy."

Peter Koechley, the Onion's managing editor, did not return phone calls on Friday about the company's Web video effort. An intern working on the project reached by phone also declined to comment.

Until now, the Onion's lack of video content has stood in contrast to other humor and social networking sites, where viral video has become a central focus. Separately, video advertising is the fastest-growing area of marketing on the Internet, according to a recent report by eMarketer. According to information provided for advertisers on the Onion site, its online viewers are 151 percent above the market average in streaming audio and video.

The apparent push into Web video by the Onion comes as acquisition rumors swirl around the satirical site. According to uncomfirmed reports in Variety and other news outlets last month, Viacom is interested in buying the Onion. The Onion has denied that it is in talks with Viacom.