MTV to acquire NeoPets.com

Television entertainment giant MTV Networks have decided to take over the NeoPets along with their popular web division managing the portal NeoPets.com. NeoPets.com is a popular online destination for kids and teens alike. The website has grown from just around a couple of thousand members few years ago to more than 25 million members today.

The site provides a virtual pet to the users who have to take care of them in a virtual world they call Neopia. Moreover, they are one of the fastest growing teen communities on the Internet. Herb Scannell, vice chairperson of MTV Networks and president of Nickelodeon Networks said in a statement about their plans to acquire NeoPets: “The combination of NeoPets and Nick.com gives us a one-two punch leadership position in the online entertainment space among kids and young adults.”

The company along with the current executives of the NeoPets would expand the scope of the concept to offline world. People can now expect to see them on television, movies, and publishing. The basic concept behind these virtual characters provides big potential for massive returns and MTV wants to take advantage of that.