MTV Networks has a new path to the college crowd, acquiring the assets of cable network College
Television Network for $15 million.
CTN is available to 8.2 million students on 750 campuses.
MTVN plans to offer music and entertainment programming over CTN. It will also
partner with Viacom Inc. corporate cousins CBS Sports and CBS News to create
customized college sports and news coverage.
CTN was at the end of its financial ropes. The company had $13 million in
losses for the first half of this year.
Another cash-strapped college channel, Burly Bear Network, sold out to
publisher J2 Communications' National Lampoon earlier this month.
MTV Networks Music Group president Judy McGrath and MTV: Music Television president Van Toffler
will oversee CTN.