Viacom Buying Game Company Xfire
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MTV Networks and Nickelodeon parent Viacom announced Tuesday plans to acquire Xfire, an online game technology company, for $102 million. Xfire has a largely youth-oriented audience that use its instant messaging and social networking platform alongside their games.
Although Xfire does not create games itself, it provides the platform for connecting players together. MTV plans to utilize the technology for its online properties, including features for sharing music videos. The network will push the service on its television programming and Web site in an attempt to expand Xfire's 4 million plus user base.