Viacom has acquired Pluto TV, the free ad-supported streaming service, for $340 million in cash. The service, which has around 12 million monthly active users, will operate as an independent subsidiary within the company, and will retain its existing CEO. Pluto TV currently offers around 100 ad-supported channels and a library of on-demand content, both of which can be viewed for free without a subscription.

https://www.theverge.com/2019/1/23/18194071/viacom-pluto-tv-acquisition-340-million