Viacom, a New York multinational mass media company, has completed its $340 million acquisition of free, advertisement-supported streaming service Pluto TV.
The acquisition advances Viacom’s plan of focusing on advertising as it invests in streaming.
The completion of the deal marks a next step in the company's evolution and an opportunity for it to extend its consumer reach and broaden its ability to add value across the industry as the media landscape continues to segment.
With the acquisition of Pluto, Viacom will be able to roll out some of its additional technology initiatives designed to improve targeting and efficiency.