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Cheddar buys MTV Networks on Campus

Financial news streaming service Cheddar Inc. acquired MTV Networks on Campus distribution platform from Viacom Inc. for an undisclosed amount, The Wall Street Journal reported May 31.

The small news and entertainment platform for college campuses will be renamed CheddarU and will feature content from Cheddar's flagship financial news streaming service and segments from Cheddar Big News. The deal includes licensing agreements that Viacom has signed with 600 campuses.

Cheddar's founder Jon Steinberg said the deal will allow the company to reach an "elusive audience of young people."