Updated below: MTVN’s 24-hour college network mtvU is expanding its scope by acquiring Y2M: Youth Media & Marketing Networks. Y2M is the parent company of College Publisher, described as the largest interactive network of online college newspapers in the US with a reach of 5-plus million college students via 450 online campus papers. The deal is expected to close in the third quarter; no terms.
mtvU has grown since launching in early 2004, increasing distribution more than 35 per cent, the company said.  The network has also become the first MTV Networks channel distributed in its entirety on broadband (mtvU Uber at mtvU.com).
New online features will come available to the affiliates and the papers will also have access to the network’s base of more than 120 top-tier advertisers, according to MTV.
Some more details in the release here.
Updated: Variety says the deal is close to $20 million.
BusinessWeek: The Y2M deal shows that Viacom is taking a different approach when it comes to reaching a younger audience on the Web...it has looked for smaller, less expensive companies that are flying under the radar. It appears to be targeting its audiences first, and then offering them a range of products across several platforms. For example, mtvU is available via cable TV and wireless phones. The Y2M deal creates another avenue for reaching mtvU’s college audience.