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Viacom's MTV Acquires Atom Entertainment for $200 Million

Authored by Mark Hefflinger on August 9, 2006 - 1:18pm.
New York - Viacom's MTV Networks announced on Wednesday that it has acquired San Francisco-based Atom Entertainment, a provider of short films and online games, for $200 million. Atom's holdings include online film pioneer AtomFilms.com, online games site Shockwave.com, AddictingGames.com and AddictingClips.com. "This acquisition is right on the money with our digital strategy," said Viacom CEO Tom Freston. "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." MTV has worked to expand its online media library with its recent acquisitions of Xfire, Y2M, GameTrailers.com, IFilm and Neopets. The company said that with the addition of Atom, its combined sites will count more than 50 million casual gamers playing more than 400 million games a month. The acquisition of Atom Entertainment is expected to close in the third quarter of 2006.

http://biz.yahoo.com/prnews/060809/nyw142.html?.v=90
http://www.shockwave.com
http://www.atomfilms.com
tags: Games | Deals | Internet | Video | Investing | MTV | Acquisitions | Viacom | Atom Entertainment |



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