GetGlue acquired by Viggle in push for social TV dominance

Viggle Inc. has purchased GetGlue for $25 million in cash and 48.3 million shares in stock, with the goal of making the merged companies the dominant force in social TV. Together, the two companies will have more than four million users.

Viggle Inc., a reward-based site that launched in January, will operate both brands. GetGlue founder and CEO Alex Iskold will join Viggle in a senior executive position on its management team and as a member of its Board of Directors.

“With this deal, we are combining very experienced and creative product, engineering and management teams that will continue to build great user experiences and provide industry leading platforms for consumers, networks and advertisers,” said Viggle CEO Robert F.X. Sillerman. “We will also be vastly increasing the Viggle user base and quadrupling our network partnerships.”

New York City-based GetGlue, founded in 2007, enables users to tell friends what they’re watching, track their favourite shows, and find videos, images, and links. It has more than 3.2 million registered users.

Viggle has 1.2 million registered users who receive points for loyalty and engagement. They can redeem points from businesses including Best Buy, Amazon, Fandango, Hulu Plus and iTunes.