Fergie's Tech Blog

Viacom to Buy Xfire for $102M in Cash

An AP newswire article, via Yahoo! News, reports that:

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.

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.

posted by Fergie @ 4/24/2006 12:21:00 PM