MTV Networks have announced plans to purchase IFILM, an internet provider of short films, news clips and other video odds and ends.

Viacom's Music Television Network is hoping the $49 million deal will help cement its place in internet history while lining its pockets with a little somethin' somethin' green at the same time.

MTV executives anticipate their company's inventory will bolster revenue and viewers for the already moderately successful IFILM. The expected 10 million viewers per month would boost advertising revenues and help promote other MTV brands.

MTV’s senior vice president of digital music and media said the idea was not to MTV-ize IFILM but "to ingest a new brand and to give that new brand world renown."

Currently IFILM is perhaps best known as a forum for Indie filmmakers to distribute their work directly to consumers.
MTV is not the only major US media company to be returning to the online arena.

ABC is also teaming up with Apple to bring digital media to Apple's new video iPod.