Nas' decision to launch the Queensbridge Venture Partners media group is certainly paying dividends. BusinessWire has announced that Viacom has effectively acquired Pluto TV, the leading free-as-you-stream television service in the whole United States. But Viacom isn't alone in footing the bill. The stated agreement calls for Viacom to split the costs with the Queensbridge Venture Partners led by Nas, and the shadow investors under his watch.
"Today marks an important step forward in Viacom’s evolution, as we work to move both our company and the industry forward," said Viacom President and CEO in a written statement forwarded to the press. "Pluto TV’s unique and market-leading product, combined with Viacom’s brands, content, advanced advertising capabilities, and global scale, creates a great opportunity for consumers, partners, and Viacom."
Pluto TV joins Genius and Lyft as Nas' core investments in World of Startup commerce. Pluto TV has room to grow beyond its already-impressive stature as the leading internet-based TV-streamer, whereas Nas is credited with helping Genius and Lyft rise from a sitting position to full-scale growth as leaders in their respective fields. Nas' successful foray into business has not equated to good tidings. News of Nas' deal Viacom is unfortunately offset by a custody battle with the mother of his children, singer Kelis. Hopefully, everything sorts itself out, on both counts: business and personal.