Viacom subsidiary MTV Networks acquired the rest of software company Social Project, which runs Flux, a platform for social networks. Flux links together sites and gives them social features like messaging and video sharing. MTV already owned a large stake in the company and had 35 sites on the platform. MTV plans to turn Flux into an ad network because "the Web is fragmented,” says Mika Salmi, MTV's president of global digital media. “People are attracted to niches. We have a history in the cable business of going after niches.” True enough: Online, MTV has a history of turning what should be successful, mainstream ventures into mere niches.

Touchy Viacom flack Jeremy Zweig called Valleywag up to let us know personally that we'd been disinvited from next week's press-only screening of Tropic Thunder. Such a pity! Because we had a list of questions we were going to ask Viacom CEO Philippe Dauman:

Barely a year after its launch, MTV is shutting down Flux TV. The U.K. channel was the network's attempt to bring social media to the telly. Users determined which music videos the channel would broadcast, as well as upload their own media. But alas, the audience, used to sitting back and being fed entertainment, didn't care to lean forward. Which brings us to Current, the San Francisco-based cable channel founded by Joel Hyatt and Al Gore.

Unable to match the pure social power of MySpace or Facebook — no matter how many Virtual Laguna Beaches it launches — Viacom is taking the next leap in the networking frontier. Instead of hosting, it's getting all Matrixy and becoming the network. Its Flux platform is sort of like Microsoft's PassPort or Google Checkout — a universal profile and set of user features that will appear across Viacom's sites and any interested third parties. A smarter move considering we're all sick of remembering multiple logins, but when will we finally reach social network saturation?