<p class="title">US media group Viacom announced on Tuesday a deal to buy free streaming television service Pluto TV for USD 340 million in cash to better compete as lifestyles shift to online entertainment.</p>.<p class="bodytext">Viacom properties include Comedy Central, MTV and Nickelodeon, as well as Paramount Pictures.</p>.<p class="bodytext">"Today marks an important step forward in Viacom's evolution," Viacom chief executive Bob Bakish said in a statement.</p>.<p class="bodytext">"As the video marketplace continues to segment, we see an opportunity to support the ecosystem in creating products at a broad range of price points, including free."</p>.<p class="bodytext">Viacom is optimistic about the ad-supported streaming television market, where it plans to work with Pluto TV and a range of partners, according to Bakish.</p>.<p class="bodytext">Acquiring Pluto TV will advance Viacom strategic priorities, including "expanding its presence across next-generation distribution platforms and growing its advanced advertising business," according to the New York-based media company.</p>.<p class="bodytext">Founded in 2013, Pluto TV streams more than 100 channels of ad-supported television on the internet.</p>.<p class="bodytext">The Los Angeles-based company boasts more than 12 million active monthly users, most of them using televisions connected to the internet.</p>.<p class="bodytext">Pluto streams content to screens through Roku, Amazon Fire TV, Android TV, Apple TV and Sony PlayStation video game consoles.</p>.<p class="bodytext">The media sector is being shaken up by technology companies such as Amazon, Netflix and YouTube that let people stream video-on-demand rather that be tethered to costly cable or satellite services.</p>.<p class="bodytext">The competition for viewers has led to manoeuvring in the sector, with AT&T buying Time Warner and Fox assets being acquired by Disney, which is launching a streaming service of its own. </p>
<p class="title">US media group Viacom announced on Tuesday a deal to buy free streaming television service Pluto TV for USD 340 million in cash to better compete as lifestyles shift to online entertainment.</p>.<p class="bodytext">Viacom properties include Comedy Central, MTV and Nickelodeon, as well as Paramount Pictures.</p>.<p class="bodytext">"Today marks an important step forward in Viacom's evolution," Viacom chief executive Bob Bakish said in a statement.</p>.<p class="bodytext">"As the video marketplace continues to segment, we see an opportunity to support the ecosystem in creating products at a broad range of price points, including free."</p>.<p class="bodytext">Viacom is optimistic about the ad-supported streaming television market, where it plans to work with Pluto TV and a range of partners, according to Bakish.</p>.<p class="bodytext">Acquiring Pluto TV will advance Viacom strategic priorities, including "expanding its presence across next-generation distribution platforms and growing its advanced advertising business," according to the New York-based media company.</p>.<p class="bodytext">Founded in 2013, Pluto TV streams more than 100 channels of ad-supported television on the internet.</p>.<p class="bodytext">The Los Angeles-based company boasts more than 12 million active monthly users, most of them using televisions connected to the internet.</p>.<p class="bodytext">Pluto streams content to screens through Roku, Amazon Fire TV, Android TV, Apple TV and Sony PlayStation video game consoles.</p>.<p class="bodytext">The media sector is being shaken up by technology companies such as Amazon, Netflix and YouTube that let people stream video-on-demand rather that be tethered to costly cable or satellite services.</p>.<p class="bodytext">The competition for viewers has led to manoeuvring in the sector, with AT&T buying Time Warner and Fox assets being acquired by Disney, which is launching a streaming service of its own. </p>