MTV Networks Partners with mywaves to Launch its First-Ever Free, Ad-Supported Video on Mobile

Strategic partnership to bring mobile video content from VH1, Spike, GameTrailers and additional MTVN brands to the fast-growing mywaves audience

NEW YORK and SUNNYVALE, Calif., March 31 -- MTV Networks (MTVN), a unit of Viacom (NYSE: VIA and VIA.B), and mywaves, the largest mobile video destination, today announced a partnership to deliver MTVN's first-ever free, ad-supported video entertainment on mobile phones. Through the agreement, select video clips from VH1, Spike, GameTrailers and additional MTVN brands will be available to mywaves users on the m.mywaves.com mobile website. mywaves and MTVN will collaborate to serve video ads on the mywaves platform, further extending MTVN's advertising sales capabilities in mobile media.

"We're the leading provider of mobile video in the world, and as we look to extend our reach and open up our vast video content libraries even further on handsets, it's crucial that we embrace the ad-supported model," said Alice Kim, Senior Vice President, Digital Distribution and Partner Relations, MTVN. "With mywaves, we're giving our fans the ability to freely interact with our content in a unique, ad-supported environment, while driving viewership back to our core TV channels, Web and mobile properties."

"MTV Networks sets the creative standard for the most popular entertainment with our young mobile audience," said Rajeev Raman, CEO and founder, mywaves. "Combined with our reach, the MTVN mobile programming now available on mywaves, offers fantastic value to consumers and advertisers. Our viewers want to enjoy MTVN entertainment anytime, anywhere and this partnership enables us to reach millions of engaged mobile consumers and lead the industry in developing new advertising based business models."

MTVN will provide frequently updated video clips, allowing mywaves users instant, on-the-go access to the freshest and most up-to-date entertainment. Beginning today, users can access VH1's "On This Day in Music" rock trivia clip. In the next several weeks, mywaves users will gain access to Spike's "30 Seconds of a Hot Chick," and GameTrailers video reviews and trailers. Video content from additional MTVN brands will be made available on mywaves later this year.

The new agreement strengthens MTVN's position as the world's largest provider of diverse programming on-air, online and on mobile spanning nearly every demographic from kids and teens, to young adults, men, boomer and LGBT audiences. MTVN is the leading provider of video on mobile, with more than 80 distribution deals and 40 on-demand and streaming mobile video services worldwide.

About mywaves Inc.

mywaves is the largest mobile video destination for consumers, attracting over 5 million unique visitors monthly to its free mobile video service. Consumers can browse through nearly 400,000 channels of premium videos and have their favorites automatically updated and delivered to their phones. Most users tune in to watch mywaves video weekly with average viewing times of 24 minutes per session. The service works globally across all 3G, EDGE, BREW and EV-DO carriers as well as most video-capable mobile phones, including Palm, Windows Mobile, Symbian and RIM based phones. Headquartered in Sunnyvale, Calif., mywaves is led by a team from Yahoo!, Napster, Danger, Palm and TiVo. The company is funded by venture capital firm, Menlo Ventures. For more information or to sign up for mywaves, go to http://www.mywaves.com or from a mobile browser: http://www.mywaves.com/m.

About MTV Networks

MTV Networks, a unit of Viacom (NYSE: VIA, VIA.B), is one of the world's leading creators of programming and content across all media platforms. MTV Networks, with more than 150 channels worldwide, owns and operates the following television programming services -- MTV: MUSIC TELEVISION, MTV2, VH1, mtvU, NICKELODEON, NICK at NITE, COMEDY CENTRAL, TV LAND, SPIKE TV, CMT, LOGO, NOGGIN, THE N, VH1 CLASSIC, MTVN INTERNATIONAL and THE DIGITAL SUITE FROM MTV NETWORKS, a package of 13 digital services, all of these networks trademarks of MTV Networks. MTV Networks connects with its audiences through its robust consumer products businesses and its more than 300 interactive properties worldwide, including online, broadband, wireless and interactive television services and also has licensing agreements, joint ventures, and syndication deals whereby all of its programming services can be seen worldwide.