• by Joe Mandese  @mp_joemandese, February 12, 2008

Yahoo, which is trying to fend off a hostile takeover by Microsoft, this morning, announced a takeover of its own, the acquisition of Maven Networks, a major player in the burgeoning online video marketplace. Yahoo said it would pay about $160 million to acquire Maven, and that the merger would make Yahoo the leading premium video publisher on the Internet.

Yahoo claims to already have the "largest library of professionally produced legally licensed video content," and said it currently has advertising deals with more than 75% of the top television advertisers, as well as major video producers including Comcast, eBay, Newspaper Consortium, and Forbes.com.

Maven, meanwhile, distributes premium online video content from more than 30 major media companies, including Fox News, Sony BMG, CBS Sports, Hearst, Gannett, Scripps Networks, and the Financial Times, as well as hundreds of their affiliates.

"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. This is a big win for publishers, advertisers, consumers and for Yahoo!," Hilary Schneider, executive vice president-global partner solutions at Yahoo, said in this morning's statement.