Pluto TV, the free streaming service available on multiple platforms, including the Fire TV, has been acquired by Viacom for $340 million in cash. Pluto TV will remain as an independent subsidiary of Viacom, and its CEO, Tom Ryan, will stay on to run the service. Pluto TV offers around 100 free streaming channels through its app to over 12 million users, of which over 60% watch through connected TVs. Most recently, they became the first free service made available through the Fire TV’s built-in live channel interface and program guide. Viacom plans to keep Pluto TV free and use it to monetize its library of content through ads.