Mass media group Viacom has entered talks to acquire US-based online television platform Pluto TV in a deal that would allow several corporates to exit, The Information reported on Friday.
The prospective transaction would involve Viacom paying $300m to $500m to buy the company, according to three people familiar with the matter.
Pluto runs an online platform that enables viewers to stream television across more than 100 channels and is available across some 20 different devices. The channels are a mixture of those curated by the company and those supported by dedicated content partners.
The company has raised more than $51m since it was founded in 2013, most recently securing $8.3m in a late 2017 round led by Samsung Venture Investment Corporation, a corporate venture capital subsidiary of consumer electronics producer Samsung.
Broadcaster Sky and talent agency United Talent Agency (UTA) participated in Pluto’s $13m series A round in 2014 together with digital media-focused fund Luminari Capital, investment firm Chicago Ventures and VC firm Great Oaks Venture Capital.
Pluto added $30m in a 2016 series B round led by media company ProSiebenSat.1 and backed by Sky, media company Scripps Networks Interactive, Luminari Capital, Chicago Ventures, Sallfort PrivatBank, US Venture Partners and Thirdwave Capital Partners that valued it at $143m.
Record company Universal Music Group and film and television producer Windsor Media are also among the company’s shareholders, as are Pritzker Group and assorted private investors including actor and musician Jared Leto.
Viacom has also held acquisition discussions with Tubi TV, a rival service whose partners include the Viacom-owned Paramount Pictures, according to reports earlier this month.
