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Viacom's MTV to Acquire Atom Entertainment

Authored by robert on August 9, 2006 - 9:00am.
From the press release sent out this afternoon:

"MTV Networks (MTVN), a division of Viacom, Inc., today announced a definitive agreement to acquire Atom Entertainment, Inc., a portfolio of four leading online destinations for casual games, short films and video, for $200 million. Acquiring Atom Entertainment advances the company's multiplatform strategy of building an engaging universe of music, gaming, entertainment, news and interactivity for targeted audiences."

The acquisition of Atom Entertainment follows recent purchases of XFIRE, Y2M, GameTrailers.com, IFILM and Neopets.

Tom Freston, CEO, Viacom, said, "This acquisition is right on the money with our digital strategy. It adds great scale with users, improves our growing casual gaming position, and brings a world-class digital video library and a fantastic management team."

On the surface this looks like a smart move for Viacom as it strengthens their position too growth markets: broadband video and casual games. I hope our poll last week on YouTube did not scare any suitors away from them.

Mark will have more info on the deal in this afternoon's email newsletter.

Related Links:
http://biz.yahoo.com/prnews/060809/nyw142.html?.v=90
WSJ: Viacom to Buy Atom Entertainment
http://shockwave.com
http://atomfilms.com
http://addictinggames.com
http://addictingclips.com
tags: Games | Deals | Internet | Video | Investing | MTV | Acquisitions | Viacom | Atom Entertainment |



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