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Viacom is paying $340 million for free internet video streaming service Pluto TV.
Viacom said Tuesday it's agreed to buy free TV streaming service Pluto TV for $340 million in cash.
Service - Streams - Channels - Content - Movies
Founded in 2013, the ad-supported, internet-based service streams more than 100 channels of on-demand content, including movies, sports, news and lifestyle programming. The Los Angeles-based Pluto TV has 12 million monthly active users who stream content across devices such as Roku, Amazon Fire TV, Android TV, Apple TV, Chromecast, and Sony PlayStation consoles, as well as Samsung and Vizio TVs.
"We see significant white space in the ad-supported streaming market and are excited to work with the talented Pluto TV team, and a broad range of Viacom partners, to accelerate its growth in the US and all over the world," Viacom CO Bob Bakish said in a statement.
Viacom - Parent - Networks - MTV - Nickelodeon
Viacom, the parent of networks like MTV and Nickelodeon, was once the disruptive TV upstart that locked in on young audiences and helped shape youth culture. But as young viewers have abandoned regular TV in favor of watching...
(Excerpt) Read more at: CNET
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