& cplSiteName &

Viacom Closes Pluto TV Buy

Light Reading
News Wire Feed
Light Reading
3/4/2019
50%
50%

NEW YORK -- Viacom Inc. (NASDAQ: VIAB, VIA) today announced that it has completed the acquisition of Pluto TV, the leading free streaming television service in the U.S.

The acquisition, previously announced on January 22, 2019 for $340 million in cash, will advance Viacom’s strategic priorities across multiple touchpoints, while solidifying Pluto TV’s leadership in the domestic free streaming video market and accelerating its growth globally.

Founded in 2013, Pluto TV streams more than 100 channels and thousands of hours of on-demand content spanning television and movies, sports, news, lifestyle, comedy, cartoons, gaming and trending digital series. Today, it has more than 12 million monthly active users across devices, including smart TVs, streaming players, mobile devices, desktops and gaming consoles.

Pluto TV will have a crucial role in expanding Viacom’s presence across next-generation distribution platforms as a standalone free over-the-top (“OTT”) product, a direct-to-consumer cornerstone, and a partnership solution for wired, mobile and OTT distributors to serve their broadband only and video bundle subscribers on a zero incremental cost basis.

Pluto TV will operate as an independent subsidiary of Viacom, led by President and CEO Tom Ryan.

Viacom
Pluto TV

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
Flash Poll
Upcoming Live Events
April 8, 2019, Las Vegas, Nevada
May 6, 2019, Denver, Colorado
May 6-8, 2019, Denver, Colorado
September 17-19, 2019, Dallas, Texas
October 1, 2019, New Orleans, Louisiana
October 2-22, 2019, Los Angeles, CA
October 10, 2019, New York, New York
November 5, 2019, London, England
November 7, 2019, London, UK
December 3-5, 2019, Vienna, Austria
December 3, 2019, New York, New York
All Upcoming Live Events
Partner Perspectives - content from our sponsors
Huawei Shows 5G in Action at MWC
By Ken Wieland, for Huawei
Huawei Heats Up Microwave for 5G Backhaul
By Ken Wieland, for Huawei
Huawei Services Bring the Best 5G Into Reality
By Steven Wu, President of Consulting & Service Solution Sales Dept., Carrier BG, Huawei
All Partner Perspectives