MTV to invest in Amp'd Mobile, deliver video clips

MTV Networks has agreed to become an investor in privately held Amp'd Mobile and will provide video clips and other content for a wireless service that Amp'd plans to kick off this week, the companies said on Wednesday, reports Reuters.

"MTV, which is also putting an executive on Amp'd's board, is investing $50 million in the mobile venture, people familiar with the matter said. The companies did not announce the terms of the investment in their statement.

Amp'd is renting space on the Verizon Wireless network to sell a mobile phone service aimed at young adults.

emily | 9:00 AM | TV on Cell Phones |
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