Wednesday, August 9, 2006

Viacom's MTV Buys Atom Entertainment

MTV Networks, which is a division of Viacom, said today that it is buying San Francisco-based Atom Entertainment for $200M. Atom operates Shockwave.com, AddictingGames.com, and AtomFilms. Viacom said the acquisition is linked to its business strategy of being a leader in the digital space and connecting with consumers on every platform and device they use. The deal is expected to close in the third quarter of 2006. Atom Entertainment is the combination of Shockwave.com and AtomFilms, two firms that merged in 2001.