Veoh Networks Inc

An Internet television service backed by one of Hollywood's best-known deal makers launches today. After a year and a half of public testing, Veoh formally opens for business stocked with more than 100,000 videos by amateurs and professionals. San Diego-based Veoh Networks Inc. is one of an emerging group of video websites seeking to move beyond pratfalls and karaoke. To that end, the company has found an investor with a distinguished Hollywood pedigree: former Walt Disney Co.

Online video company Veoh Networks Inc. said Wednesday that it had hired former Yahoo Inc. advertising executive Steve Mitgang as chief executive. San Diego-based Veoh said founding CEO Dmitry Shapiro would make way for Mitgang by becoming the chief innovation officer. As a senior vice president at Yahoo, Mitgang, 46, managed the company's next-generation search advertising system, dubbed Project Panama.

Veoh Networks Inc., a Los Angeles-based Internet television start-up, said it raised $25 million from investors including former Viacom Inc. Chief Executive Tom Freston. Along with Goldman Sachs Group Inc., the new backers include Jonathan Dolgen, former head of Viacom Entertainment Group, closely held Veoh said.

Universal Music Group's copyright dispute with Internet TV start-up Veoh Networks Inc. will be handled in an L.A. court after a federal judge in San Diego dismissed a parallel case. Veoh filed a preemptive suit against Santa Monica-based Universal in August seeking a home turf advantage, U.S. District Judge Thomas J. Whelan ruled. Universal sued San Diego-based Veoh the following month in Los Angeles federal court, accusing it of illegally hosting Universal's content on the Web.