On Tuesday (Jan. 22), Businesswire announced that media giant Viacom has agreed to a definitive deal with Nas’ Queensbridge Venture Partners to acquire their Pluto TV streaming service for $340 million.
The service that was founded in 2013 has accumulated over 130 partnerships with TV networks, media networks, and major film studios allowing Pluto to offer more than 100 streamable TV channels in all genres of entertainment. Pluto TV compatible with almost every device with streaming capabilities including Andriod and iOS products for a monthly rate.
“Today marks an important step forward in Viacom’s evolution, as we work to move both our company and the industry forward,” Bob Bakish Viacom President and CEO said. “Pluto TV’s unique and market-leading product, combined with Viacom’s brands, content, advanced advertising capabilities and global scale, creates a great opportunity for consumers, partners and Viacom.”
Pluto is added to the list of startups like Lyft and Rap Genius in which Nas has placed early investments and helped elevate to reputable status.
Congrats to Nas and the team.