Viacom International and iFilm are expected to wrap up a merger agreement this week, with the buyout by the media conglomerate expected to be worth about $50 million, reports CNET. The deal would give Viacom greater access to a growing online advertising market, particularly video advertising, and provide an online venue to feature video content from its various companies, including MTV Networks and Paramount Pictures.

IFilm hosts short video clips, TV show segments and movie trailers and has attracted web users and commercial TV advertisers as a result of the growing adoption of broadband internet access.

Viacom will split into two publicly traded entities next year; its online properties include CBSNews.com, Neopets, MTV.com and Bet.com, and iFilm is likely to remain under Viacom, which would include MTV Networks and Paramount. The second entity, called CBS Corp., would consist of the CBS and UPN broadcast networks.