Just a few months after embarking on its European journey, US online video aggregator Pluto TV has been swallowed by media giant Viacom for the tidy sum of $340 million. As Viacom’s traditional cable channels like MTV and Comedy Central verge on disappearing down the sink hole altogether, the company has been desperately trying to piece together an OTT video strategy, for which Pluto TV is an interesting choice – and a fitting one at that. Yet the underlying motive here is again fundamentally one of the declining value of the mega production studio and transition of power to the online content providers. This was highlighted in November when Viacom inked another exclusive deal with Netflix, and this week the…