Adconion Buys Joost Assets

Adconion Media Group, a Santa Monica, Calif.-based online advertising network, has acquired the assets of Joost Inc., a bankrupt provider of Internet television services. No financial terms were disclosed. Adconion last year raised the equivalent of $80 million in Series C funding from Index Ventures and Wellington Partners. Joost had raised $45 million from Index, Sequoia Capital, Li Ka Shing Foundation, CBS and Viacom.

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