Viacom Inc. said it bought the ad-supported video-streaming service Pluto TV for $340 million in cash, a move that gives the pay-television giant another entrée to the realm of online video.
Acquiring Pluto TV will allow Viacom to increase the digital audience for its programming, while giving the owner of networks such as Nickelodeon and MTV instant scale for its online-advertising business.
Pluto TV, which was founded in 2013, streams thousands of hours of content, including movies, news broadcasts and cartoons, Viacom said. The service has more than 12 million monthly users, according to Viacom, 7.5 million of whom are on connected TVs.
You guys would be one of the early adopters of Viacom’s stock as the company makes its transition so let’s break it down.
Weekly Timeframe signals a COMPLETE SELL!
Now this might come as a surprise to a lot of you but what you need to understand is that Viacom’s acquisitions have already been factored into the price of the market.
The news will tell you to buy something that is ready to be sold off the Purple Zones.
This is displaying its Overhead Resistance 200SMA which therefore tells me that lower prices are to be expected.
Viacom Daily Timeframe