Media giant Viacom has agreed to buy Pluto TV, the free, ad-supported streaming service, for $340 million in cash.
In the deal, Pluto TV, which has more than 100 channels, will gain access to Viacom’s kids, African-American, reality and comedy programming.
In turn, Viacom, which has curtailed the licensing of its programming to streaming services over the last two years, gains additional opportunities to monetize its library, while marketing its premium TV channels and other entertainment brands. Pluto TV, Viacom said, also enables it to reach a “young, gender-balanced” audience and grow its advertising business.
Viacom said that Pluto TV has more than 12 million monthly active users, with 7.5 million of them watching on connected TVs.
Pluto TV is accessible for free on the web and via a range of connected TV platforms and mobile devices. You can explore its channel guide and schedule at Pluto.TV/guide.
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