MTV will be shutting down its iFilm video site early next year, reports Advertising Age.

iFilm.com and SpikeTV.com, both owned by MTV Networks, will be consolidating under Spike.com by the end of Q1 2008. MTV made the decision based on the notion that both sites probably drew similar audiences of young males.

The combined site also means a combined sales team. Advertisers like Coors, which joined iFilm early on, will be establishing an even bigger sponsorship presence on the new site.

MTV acquired iFilm in late 2005, but visitor numbers have been off slightly from 2006 to 2007. The increased reach of both sites' audiences will also make selling ads there an easier endeavor.