MTV Buys Atom Entertainment
Posted on August 11, 2006
MTV Networks has acquired Atom Entertainment, a publisher of web games, films and funny video clips for $200 million. This purchase will go well with MTV's purchase of iFilm last October. The company says it gets 17 million unique visitors each month.
Judy McGrath, chairman and CEO of MTV Networks, says in a statement, "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. 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."
MTV has been busy acquiring small but popular online websites instead of spending a fortune for a big player like YouTube. In addition to Atom and iFilm, MTV has also recently purchased Xfire, GameTrailers.com and Neopets.