MTV stays in college
Cabler to buy Y2M for $20M
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The Viacom net is buying Y2M, owner of the nation's largest network of online campus newspapers.
Financial terms weren't disclosed, but price is said to be circa $20 million.
It's a small deal, but one that fits with Tom Freston's strategy so far of tuck-in acquisitions that complement existing businesses. MTV also owns MTVU , a 24-hour channel broadcast to 750 colleges and universities, reaching 7 million students. Together, the assets make an attractive play for advertisers seeking that elusive college demo.
Boston-based Y2M: Youth Media & Marketing Networks is the parent of College Publisher, which reaches more than 5 million students via 450 online campus papers.
"Bringing MTVU and Y2M together is another avenue for us to be everywhere our audiences are," MTV Networks chief Judy McGrath said.
MTV Nets' recent acquisitions include Xfire (for $102 million), iFilm (for $49 million), Neopets ($160 million) and Gametrailers.
Viacom's looked at the Onion, Facebook and a host of other properties.
All media companies are under pressure from Wall Street to develop a strong Internet strategy, with the gold standard so far being News Corp.'s $580 million purchase of giant MySpace a year ago.
