MTV & Electus Announce Series Development on First-ever Interactive Telenovela, 'Pedro & Maria'

-Award-winning actress America Ferrera to executive produce; Author of Tony Award-winning musical Quiara Alegria Hudes to write the script and executive produce -

-Procter & Gamble Productions to lend creative support-

NEW YORK, April 12 -- Ben Silverman's next generation multimedia studio, Electus, an operating business of IAC (Nasdaq: IACI), and MTV today announced their plan to actively develop and produce the first-ever multicultural, interactive series built for the digital age for MTV. Emmy and Golden Globe-winning actress America Ferrera will executive produce the series with her production company, Take Fountain. Quiara Alegria Hudes, the author of the Tony award-winning Broadway musical "In the Heights," will write the script and executive produce, and Ian Kleinert and Jarred Weisfeld of Objective Entertainment will co-executive produce. Procter & Gamble Productions has also signed on to produce and lend creative support to the innovative content and production initiative.

The collaboration between world-renowned producers, writers, a major television network and one of the top global marketers marks the creation of a groundbreaking new production marketing model geared toward a burgeoning demographic. Electus will own all international distribution rights for "Pedro & Maria" including television, motion picture and digital. Created and executive produced by Ben Silverman, "Pedro & Maria" is the first-ever interactive Telenovela, developed for both television and the web. The show is a bilingual, modern day Romeo & Juliet that will, for the first time, give audience members the ability to vote and decide on the direction the characters and story lines will take. MTV and Electus will partner and utilize digital platforms including Facebook, Twitter and other social networking sites (in both English and Spanish), allowing viewers to actively participate in the show's outcome.

"World class marketers, content creators and top producers are beginning to recognize that their individual success relies heavily on their ability to join forces to create content platforms that are both engaging and entertaining, while over delivering a compelling message for their audience," said Ben Silverman, CEO of Electus. �America Ferrera, MTV and P&G are leading this charge alongside us with a groundbreaking new interactive platform that allows us to tap into this growing and important demographic.�

"'Pedro & Maria' comes to us from a trifecta of talent in Ben, America and Quiara, who collectively will bring this youthful, contemporary Latino romantic story to life. The added collaboration with Proctor and Gamble makes this a unique project that perfectly complements our scripted slate and the overall creative diversity at MTV. The Latino population is an under-represented and under-served segment of the audience, and I am excited to help bring this relevant show to MTV," said David Janollari Executive Vice President, Scripted Development, MTV.

Procter & Gamble Productions will serve as a co-producer with MTV and Electus for "Pedro & Maria," creating original commercials and unique, branded entertainment opportunities for several of P&G's beauty and health brands in and around the show and across multiple media platforms, including television and digital.

"Electus is at the forefront of the evolution of content and by partnering with them for a project like 'Pedro & Maria' we can truly explore innovative and creative branded entertainment opportunities for a multicultural audience," said Rich DelCore, Director of Branded Entertainment at P&G. "Ben has played a critical role in transforming the traditional advertising model and creating unique links and unprecedented collaboration between content production, advertising, and marketing across the board and we are thrilled to be working with him on this project."

Capitalizing on the ever-evolving world of multimedia production and distribution, Electus is the industry's first non-traditional entertainment studio that connects advertisers, distributors and content creators early on in the development process, enabling sponsors to be a partner in campaigns and content creation.

About Electus

Electus is the first integrated multimedia entertainment studio to unite producers, creators, advertisers and distributors under one roof and produce all forms of content for distribution across a variety of platforms around the world. Headed by Ben Silverman, in partnership with IAC, the studio connects advertisers, distributors and content creators early on in the development process, enabling marketers and advertisers to be a true partner in campaigns and content creation.

About IAC

IAC operates more than 50 leading and diversified Internet businesses across 30 countries... our mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. To view a full list of the companies of IAC please visit our website at www.iac.com.

About MTV

MTV is the dynamic, vibrant experiment at the intersection of music, creativity and youth culture. For over 28 years, MTV has evolved, challenged the norm, and detonated boundaries -- giving each new generation a creative outlet and voice that entertains, informs and unites on every platform and screen. On-air, MTV is the number one rated full-day ad-supported cable network for P12-24 and P12-34. Online, MTV.com averaged 24.5 million monthly unique visitors during the first quarter of 2010 -- up +8% from Q4/2009 and up +13% year-over-year. Average video streams for the first quarter of 2010 increased +8% from the Q4/2009 and is up +6% over the same time period last year. And MTV's successful sibling networks MTV2 and mtvU each deliver unprecedented customized content, super-serving young males, music fans, and college students like no one else. MTV is part of MTV Networks, a unit of Viacom ( VIA, VIA.B), one of the world's leading creators of programming and content across all media platforms.

About Procter & Gamble Productions

For the last 75 years, Procter & Gamble Productions has been at the forefront of creating powerful, emotional relationships between consumers and brands. Through the development of original content, PGP has utilized the most advanced technology of each era to generate innovative properties, ranging from soap operas on the radio and early television to award shows to fast-growing web ventures. Current PGP properties include daytime drama "As The World Turns," "The People's Choice Awards," and original content websites such as Petside.com, DinnerTool.com and LifeGoesStrong.com. For more information, visit www.proctergambleproductions.com.