MTV Acquires Remaining Stake Of Social Project
This story was written by David Kaplan.
MTV Networks (NYSE: VIA) has acquired Social Project Inc., the company that runs social media aggregator Flux.com, which has been working with the Viacom unit to build up community tools around its sites over the past two years. Terms weren't disclosed. The announcement was made at a press conference at MTVN's offices. Mika Salmi, president, global digital media for MTVN. MTVN first invested in Tagworld, which became Social Project, in November 2006. Flux now has 7.6 million, with 2 million adding since opening up its platform last fall. More to come.
By David Kaplan