Oh Yippie....
MTV Networks Buys Neopets.com Parent
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Jun 20, 12:28 PM (ET)
NEW YORK (AP) - MTV Networks on Monday said it acquired NeoPets Inc., owner of the popular teen Web site Neopets.com., for an undisclosed sum.
From about 90,0000 members five years ago, Neopets has grown to about 25 million members today - 60 percent of whom are over age 13 - who create and care for "virtual pets" that inhabit a mythical world called "Neopia." The site is one of the world's largest and fastest-growing among youth, MTV said. "Neopia" has its own geography, pet species and games.
"The combination of NeoPets and Nick.com gives us a one-two punch leadership position in the online entertainment space among kids and young adults," said Herb Scannell, vice chairman of MTV Networks and president of Nickelodeon Networks.
Neopets Chairman and Chief Executive Doug C. Dohring said aligning with MTV will expand the Neopets brand offline into television, movies and publishing. Dohring said the site's original characters offer "tremendous opportunity for creative innovation."
Dohring and other Neopets senior managers will continue in their roles following the completion of the acquisition, MTV said, and will manage the company from its Glendale, Calif., headquarters.
MTV Networks is owned by Viacom International Inc. Shares of Viacom Inc. (VIAB) fell 3 cents to $33.53 in midday trading on the New York Stock Exchange, where they have traded in a 52-week range of $32.56 to $39.26
I have a feeling this is going to end badly....
Email this Story
Jun 20, 12:28 PM (ET)
NEW YORK (AP) - MTV Networks on Monday said it acquired NeoPets Inc., owner of the popular teen Web site Neopets.com., for an undisclosed sum.
From about 90,0000 members five years ago, Neopets has grown to about 25 million members today - 60 percent of whom are over age 13 - who create and care for "virtual pets" that inhabit a mythical world called "Neopia." The site is one of the world's largest and fastest-growing among youth, MTV said. "Neopia" has its own geography, pet species and games.
"The combination of NeoPets and Nick.com gives us a one-two punch leadership position in the online entertainment space among kids and young adults," said Herb Scannell, vice chairman of MTV Networks and president of Nickelodeon Networks.
Neopets Chairman and Chief Executive Doug C. Dohring said aligning with MTV will expand the Neopets brand offline into television, movies and publishing. Dohring said the site's original characters offer "tremendous opportunity for creative innovation."
Dohring and other Neopets senior managers will continue in their roles following the completion of the acquisition, MTV said, and will manage the company from its Glendale, Calif., headquarters.
MTV Networks is owned by Viacom International Inc. Shares of Viacom Inc. (VIAB) fell 3 cents to $33.53 in midday trading on the New York Stock Exchange, where they have traded in a 52-week range of $32.56 to $39.26
I have a feeling this is going to end badly....