MTV Networks, a division of Viacom, has agreed to purchase online media company Atom Entertainment for $200 million on Wednesday.
Atom Entertainment runs four online media and gaming sites including AtomFilms.com, Shockwave.com, AddictingClips.com and AddictingGames.com.
The purchase adds great scale with users, improves our growing casual gaming position, and brings a world-class digital video library and fantastic management team, Tom Freston, CEO of MTV Networks' parent company Viacom, said in a statement.
The purchase marks an ongoing effort by MTV to expand its brand beyond its popular cable television channels, and move into different media strategies. The company recently acquired entertainment brands XFIRE, Y2M, GameTrailers.com, IFILM, and Neopets.
The addition of Atom's gaming sites also gives the company a major foot-print in online gaming, adding nearly 50 million gamers playing over 400 million games per month. The video sites would further expand the company's broadband multimedia offerings, now offered across 24 broadband channels.
Leveraging MTVN's platform will accelerate our growth and create new opportunities for both consumers and advertisers, Atom CEO Mika Salmi said.
We are proud of the business we've built and look forward to working together with MTVN to lead the way in the casual gaming and short-form video content business.