Yahoo buys Maven Networks for $160 million

Yahoo Inc. said today it purchased Maven Networks Inc., which provides technologies that allow companies to show video online, for about $160 million.

Yahoo said the acquisition of Cambridge, Mass.-based Maven will expand its consumer video and advertising businesses.

Maven's platform allows publishers to deliver video content online. It already manages and distributes online videos for at least 30 media companies, including Fox News, Hearst, Gannett and Scripps Networks, among others.

Yahoo rose 13 cents to $30 in Tuesday premarket trading, after ending at $29.87 on Monday. (AP)