Independent Telemedia to Buy Online Software Firm

Independent Telemedia Group Inc., a Sherman Oaks media investment firm, said a company it has agreed to acquire has been chosen to provide technology to the online service America Online Inc.

SkyConnect Inc., based in Boulder, Colo., will work with America Online to provide software and other tools for information providers to create and distribute content. SkyConnect has developed a network of systems it calls digital video file servers, which is a cost-saving technology capable of using computers to distribute advertisements and other programming digitally.

Independent Telemedia agreed in October to acquire SkyConnect in an exchange of stock.