Up and Atom for MTVN
By Multi Channel News Staff -- Multichannel News, 8/9/2006 2:34:00 PM
MTV Networks announced a definitive agreement to acquire Atom Entertainment for $200 million.
Atom is a portfolio of four online destinations for casual games, short films and video.
The Atom purchase follows the programmer’s recent acquisitions of online companies Xfire (www.xfire.com), Y2M (www.y2m.com), GameTrailers.com (www.gametrailers.com), IFILM (www.ifilm.com) and NeoPets (neopets.com).
Atom’s Shockwave.com (www.shockwave.com) and AddictingGames.com (addictinggames.com) offer nearly 1,500 free and downloadable games, while AtomFilms (www.atomfilms.com) and AddictingClips (addictingclips.com) are film and video sites for short-form comedy, animation, drama and user-generated content.
“Atom Entertainment is a best-in-class and dynamic property with brands that have dedicated, passionate followers and content that resonates with our global audience," MTVN chairman and CEO Judy McGrath said in a prepared statement. "This acquisition is in line with our business strategy of being a leader in the digital space and connecting with consumers on every platform and device they use.”
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