MTV Gets Gaming With $102m Xfire Purchase

27 April 2006

    NEW YORK - Viacom's MTV Networks is emulating News Corporation by acquiring an online gaming community site, Xfire, in a $102 million (€82.18m; £57.06m) deal.
    Xfire is a social networking, instant messaging and information service for online gamers. It has four million registered users of whom 1m are active players averaging 91 hours usage monthly.
    Viacom will integrate Xfire's services with those already owned by MTV, including gaming site Neopets and video-on-demand site iFilm.
    Enthuses Viacom president/ceo Tom Freston: "Xfire is far and away the leading PC gaming communications and community platform, has outstanding management and is a perfect fit with our growing digital businesses."