Dive Brief:

• Cable and entertainment giant Comcast has purchased Freewheel. 
• The startup personalizes and inserts online video ads and will now help Comcast boost its digital advertising business. 
• The exact dollar amount hasn't been revealed, but it's estimated to be about $360 million. 

Dive Insight: 

With multi-screen viewers, the importance of an online video presence is on the rise for TV companies. The acquisition of a company already entrenched in the online ad industry is a smart move for a cable company that could be looking to play catch-up.