Viacom acquired Pluto TV for $340m.

Viacom, an American multinational mass media conglomerate, acquired Pluto TV, the leading free streaming television service in the US, for $340m. The acquisition of Pluto TV will advance Viacom’s key strategic priorities, including expanding its presence across next-generation distribution platforms and growing its advanced advertising business. Additionally, access to Viacom’s global reach, leading brands and vast, unencumbered library will help solidify Pluto TV as the leader in the free streaming video market in the US, and accelerate Pluto TV’s global growth.