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Sunday, May 28, 2023

MTV Buys NeoPets for $160 million

Glendale-based online entertainment network company NeoPets Inc., has been purchased by Viacom Inc.’s MTV Networks., in a deal estimated to be worth $160 million. NeoPets is the operator of NeoPets.com, a site frequented mainly by children, who seek to create and care for “virtual pets,” that inhabit mythical lands. The site gets more than 5 billion page views a month, according to Viacom, with more than 25 million members worldwide. The company attributes the growth to word of mouth. Doug Dohring, NeoPets.com’s chief executive and other senior managers will stay on after the acquisition.

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