Viacom to buy Atom Entertainment
VIACOM TO BUY ATOM ENTERTAINMENT
[SOURCE: Reuters, AUTHOR: Kenneth Li]
Viacom's MTV Networks on Wednesday said it would buy Internet video and games company Atom Entertainment Inc. for $200 million as big media companies move to compete with online upstarts such as video leader YouTube.com. MTV Networks hopes to grow its main audience of young viewers with Atom's portfolio of online videos created by Internet users, short independent films and casual online games, said Chairman and Chief Executive Judy McGrath.