Viacom Buys AtomFilms14 Aug, 2006 By: Jessica Wolf
Viacom Inc. is bringing Atom Entertainment, a digital powerhouse for casual games, short films and video, into the fold.
The $200 million deal brings Atom's roster of four video-on-demand-based Web sites under the company's MTV Networks umbrella.
Shockwave.com and AddictingGames.com represent nearly 1,500 free and downloadable computer games.
AtomFilms.com and AddictingClips.com house short-form comedy and animated films, as well as user-generated content.
It's a great example of Viacom's continuing strategic initiative of reaching fans across media platforms, said company CEO Tom Freston in a recent earnings conference.
The deal follows MTV Networks' purchases of XFIRE, Y2M, GameTrailers.com, IFILM and Neopets.