Wednesday, August 09, 2006

UPDATE 1-Viacom to buy Atom Entertainment for $200 mln |

"Viacom Inc.'s MTV Networks on Wednesday said it would buy Internet video and games company Atom Entertainment Inc. for $200 million amid a rush by big media companies to compete with upstart online video leader
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. "

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