.FOX Networks, the international ad network operated by Fox International Channels, just announced a few moments ago that its video advertising division, Utarget.Fox, has signed a significant global sales agreement with blinkx, the world’s largest video search engine. This may be the beginning of the consolidation of the online video market that we all knew was coming. Early stage tech companies are going to have to rely on large media vehicles in order to bring significant monetization. As part of the deal, Utarget.Fox will sell advertising externally on the blinkx platform across its 33 regional offices and sell inventory on a transparent basis in the UK.

Through the agreement with blinkx, Utarget.Fox will monetize premium partner content. Utarget.Fox will also offer clients audio keyword in-video banners which leverage blinkx’s patented speech recognition technology to match the content with suitable client banners. In addition to video ad representation, Utarget.Fox and blinkx will work together to provide vertical channels and promotion of FOX content across the regional presences of blinkx.

Phil Cooper, CEO and founder of Utarget.Fox comments, “The recent acquisition of Utarget by .FOX Networks has enabled us to strengthen the relationship Utarget enjoys with blinkx, by expanding and delivering on the promise of Utarget.Fox, which combines a strong video offering with a worldwide sales presence.”

Utarget.Fox could be a saving partner for the struggling blinkx since they have three years of experience in the emerging Video Advertising sector and can now leverage early relationships and well-formed technology within its new home at FIC.

“blinkx is at the forefront of optimizing ways for publishers to monetize and manage their video content,” explained Suranga Chandratillake, founder and CEO, blinkx. “Working with Utarget offers our partners an effective mechanism for getting in touch with the right advertisers.