Viacom to buy Atom Entertainment for $200 mln

Iria · Aug 9, 2006, 03:51 PM

Source: Reuters
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NEW YORK (Reuters) - Viacom Inc.'s MTV Networks on Wednesday said it would buy Internet video and games company Atom Entertainment Inc. for $200 million amid a rush by big media companies to compete with upstart online video leader YouTube.com.

MTV Networks hopes to grow its main audience of young viewers with Atom's portfolio of online videos created by Internet users, short independent films and casual online games, said Chairman and Chief Executive Judy McGrath.

Aug 9, 2006, 03:51 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 74	Viacom to buy Atom Entertainment for $200 mln Source: Reuters ________ NEW YORK (Reuters) - Viacom Inc.'s MTV Networks on Wednesday said it would buy Internet video and games company Atom Entertainment Inc. for $200 million amid a rush by big media companies to compete with upstart online video leader YouTube.com. MTV Networks hopes to grow its main audience of young viewers with Atom's portfolio of online videos created by Internet users, short independent films and casual online games, said Chairman and Chief Executive Judy McGrath.