http://news.moneycentral.msn.com/provider/providerarticle.asp?Feed=AP&Date=20060424&ID=5664244
Viacom to Buy Xfire for $102M in CashadvertisementRelated information E-mail this article Print-friendly versionRelated topicsMergers and Acquisitions
All Associated Press NewsNEW YORK (AP) - Viacom Inc., the entertainment conglomerate that owns MTV and VH1, on Monday said it would buy an online video gaming company called Xfire Inc. for $102 million in cash.
Viacom said Xfire would be folded into its MTV Networks group, which also houses several other online outlets including Neopets, Parents Connect, GoCityKids.com, iFilm and GameTrailers.com.
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Xfire has about 1 million active users and offers an online video gaming platform aimed at men 18-34 years old. It is supported by advertising.
Viacom split off from CBS Corp. at the beginning of this year.
Viacom' s Class B shares rose 17 cents to $38.95 in afternoon trading on the New York Stock Exchange.
© 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Viacom to Buy Xfire for $102M in CashadvertisementRelated information E-mail this article Print-friendly versionRelated topicsMergers and Acquisitions
All Associated Press NewsNEW YORK (AP) - Viacom Inc., the entertainment conglomerate that owns MTV and VH1, on Monday said it would buy an online video gaming company called Xfire Inc. for $102 million in cash.
Viacom said Xfire would be folded into its MTV Networks group, which also houses several other online outlets including Neopets, Parents Connect, GoCityKids.com, iFilm and GameTrailers.com.
Recent investing newsZoom First Quarter 2006 Earnings Release and Conference Call Lockheed Martin Opens New Laboratory With Joint Forces Command War-Game Earnings Preview: Martha Stewart Living Wal-Mart Stores, Inc. Establishes Employment Practices Advisory Panel Microsoft argues EU antitrust ruling was flawed
Xfire has about 1 million active users and offers an online video gaming platform aimed at men 18-34 years old. It is supported by advertising.
Viacom split off from CBS Corp. at the beginning of this year.
Viacom' s Class B shares rose 17 cents to $38.95 in afternoon trading on the New York Stock Exchange.
© 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.