Viacom's MTV Networks announced it has bought Quizilla.com, an online, user-generated teen community.
The companies did not disclose any financial details of the deal.
"Quizilla.com is a terrific destination and another interactive and creative online environment that we're adding to MTV Networks' portfolio of targeted digital brands," says Judy McGrath, chairman and CEO, MTV Networks. "This marks another great step forward with our strategy of continuing to transform MTVN into a global, multi-platform entertainment company that engages our diverse audiences wherever, whenever and however they want."
MTV has acquired several teen-centric companies such as NeoPets.com and Harmonix Music Systems, a company that makes video music-oriented games. Last year it was said that Viacom was in talks to buy MySpace but News Corp. beat them in closing the final deal. Viacom Chairman Sumner M. Redstone had fired former chief executive Tom Freston because Freston was too slow in a potential buyout of MySpace.
The Jordan, Edmiston Group, Inc., the New York-based middle-market media investment banking firm, represented Gorilla Nation Media in this transaction.
"I think this is a very smart deal for Viacom, which is ahead of the curve from other large media companies. Viacom knows how to build and leverage new online assets including user-generated online content such as Quizilla," Tolman Geffs, managing director, The Jordan, Edmiston Group, told iMedia.
comScore Media Metrix reported that Quizilla.com drew 3.1 million unique visitors globally in September.
"I think the landscape of the industry is changing. Larger media companies are realizing that they have to own more companies to create an immersed audience. The acquisition deal makes Viacom more well-rounded and now the company can extend its brand across multiple touch points online," Aaron Broder, CEO of Gorilla Nation, told iMedia.
"Teens are notoriously difficult to pinpoint online. Some teens do things like adults such as read news and sports while a lot of teens display behavior that relates to teens like journaling and quizzes. Quizilla is a property that is unique and consistent in what online teens do," adds Broder.