MTV Networks buys the virtual pet site Neopets for $160 Mio.
Neopets has 25 million pet owners and generates 5 billion page views per month. Mostly kids own virtual pets like Snoogy (see photo) online. Neopets was founded by two college students from the UK in 1999 and has now 120 employees, mostly creating pets like Snoogy I guess.
More details on the NY Times.