Viacom and Network18 Complete Formation of Joint Venture in India: Viacom 18

Viacom and Network18 Complete Formation of Joint Venture in India: Viacom 18

NEW YORK, Nov. 7 /PRNewswire-FirstCall/ -- Viacom Inc. (NYSE:VIA) (NYSE:and) (NYSE:VIA.B) and Network18 (through its Group company Global Broadcast News, GBN) today announced that they have completed the formation of their 50/50 joint venture in India called Viacom 18 Media Private Limited. The companies announced their plans for the joint venture in May 2007.

Viacom 18 will include television, film and digital media content across numerous brands as well as consumer products to build India's leading multi- platform entertainment company. The joint venture will launch a new Hindi- language general entertainment channel in India early next year. The service will consist of original, locally produced programming, acquisitions and content from MTV Networks. The joint venture will operate the successful local networks, MTV, VH1 and Nickelodeon India, of MTV Networks (MTVN), a unit of Viacom. In the future, Viacom 18 will launch a suite of niche channels from the MTV Networks portfolio, as well as new brands. Digital media content across all the television brands will be developed and distributed to Indian consumers. The joint venture will also syndicate MTVN programming and newly produced content.

Studio18, the Motion Pictures division of Network18, is also an integral part of Viacom18 and it will continue to produce, acquire and distribute Hindi-language films.

About Viacom

Viacom, consisting of BET Networks, MTV Networks and Paramount Pictures, is the world's leading entertainment content company. It engages audiences on television, motion picture and digital platforms through many of the world's best known entertainment brands, including MTV, VH1, CMT, Logo, Harmonix, Nickelodeon, Noggin, Nick at Nite, AddictingGames, Neopets, COMEDY CENTRAL, Spike TV, TV Land, AtomFilms, Gametrailers, BET, Paramount Pictures, DreamWorks and Paramount Vantage. Viacom's global reach includes approximately 145 channels and 300 online properties in 160 countries and territories. For more information about Viacom and its businesses, visit www.viacom.com.

About Network18

Network18 is one of India's leading full play media conglomerates with interests in television, internet, filmed entertainment, mobile content and allied businesses. Through its holding in Television Eighteen India Ltd (TV18), Network18 operates India's leading business news television channels - CNBC TV18 and CNBC Awaaz and one of India's leading real time news terminal providers, Newswire 18. It also runs India's leading Internet company Web18, which offers multiple industry leading web portals across the content, transaction & communication spectrum including moneycontrol.com, a global leader in financial news & information and ibnlive.com, India's leading general news & information web destination. Through its holding in Global Broadcast News Ltd (GBN), Network18 operates in the general news space with news channels CNN-IBN and IBN 7. Additionally, Network18 holds the Group's online & on-air retail venture, Homeshop18 and its full spectrum filmed entertainment business, Studio18. The Group has recently announced forays, organic and inorganic, into event management, regional news, media process outsourcing and other areas. As an entity, Network18 services more than 75 million enabled audiences. log onto www.network18online.com for more.

About Global Broadcast News

Global Broadcast News (GBN) has in a short time emerged as India's leading general news & information provider. It operates India's No.1 English news channel CNN-IBN, in partnership with Time Warner and one of India's fastest growing Hindi news channels IBN 7, in partnership with the Jagran Group, owners of India's largest Hindi language daily. Within a couple of years of launch, CNN-IBN & IBN 7 have risen to leadership in a highly competitive news environment, leading from the front in espousing values of uncompromised editorial integrity, inclusive journalism and a voice of the masses. Global Broadcast News has recently announced a foray into regional news with IBN Lokmat in partnership with the Lokmat group in Maharashtra and is strategically well placed to emerge as India's leader in general news, information and entertainment.

First Call Analyst:
FCMN Contact:

Source: Viacom Inc.

CONTACT: Media: Kelly McAndrew, +1-212-846-7455,
Kelly.mcandrew@viacom.com; or Deepa Vaidyanathan of LinOpinion PR,
+91-982-045-3418, Investors: James Bombassei, +1-212-258-6377,
James.bombassei@viacom.com

Web site: http://www.viacom.com/
http://www.network18online.com/

---

Profile: International Entertainment