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Report: Viacom in talks to acquire ad-supported streaming service

Viacom Inc. is looking to acquire an ad-supported streaming platform and has held discussions with Tubi Inc. and Pluto Inc.'s Pluto TV, The Information reported Jan. 11, citing sources.

The media company recently approached free streaming service Tubi TV, which is partly owned by Metro-Goldwyn-Mayer Studios Inc. and Lions Gate Entertainment Corp. An acquisition of Tubi TV could cost Viacom around $300 million, one of the sources said.

Viacom also approached free streaming platform Pluto TV, which is backed by Sky PLC and others, in 2018 for a possible acquisition, according to the report.

Sources noted that it is unclear whether these discussions will lead to a deal.