MTV Networks makes Japanese acquisition

TOKYO, Japan (UPI) -- MTV Networks, owned by Viacom Inc., will buy the remaining interest in joint venture MTV Japan from private equity firm H&Q Asia Pacific.

The deal, whose value was not disclosed, is MTV Networks` largest such action in the Asia-Pacific region and gives it sole ownership of the Japanese venture, the company said Tuesday.

Upon completion of the deal, MTV Networks will combine MTV Japan with Nickelodeon and Flux into one business unit.