[11/22/05 - 12:00 AM]
MTV Networks Acquires GametrailerS.com

[via press release from MTV]

MTV Networks Acquires GameTrailers.com

Premier Creator of Video-Based Gaming Content Joins MTV Networks� Leading Multi-Platform Brands

New York, NY--November. 22, 2005--MTV Networks, a unit of Viacom Inc. (NYSE: VIA and VIA.B), has announced that it has acquired substantially all the assets of GameTrailers LLC, including the internet site GameTrailers.com. GameTrailers is a leading producer and aggregator of broadband video content comprehensively covering the latest and best in the world of video games. The terms of the transaction were not disclosed. The announcement was made today by Jason Hirschhorn, Chief Digital Officer of MTV Networks.

Adding GameTrailers.com to the MTV Networks family of targeted entertainment destinations, including MTV.com, VH1.com, Spiketv.com, ComedyCentral.com, Nick.com and many more, further expands the company�s position as a top online entertainment network. Along with the recent purchases of IFILM and Neopets, the acquisition of GameTrailers.com underscores MTV Networks� focused and continued commitment to being the leading multi-platform entertainment company serving its audiences across all screens.

�The acquisition of the GameTrailers business represents a strong and unique step forward for MTV Networks into the growing world of video-game culture by delivering high quality broadband video content to consumers, and it complements our broad efforts in video-games media across our brands,� said Hirschhorn. �The quality and credibility of GameTrailers� work has been rewarded with respect among gamers and the industry alike and will take MTVN to new heights in this dynamic space.�

GameTrailers will join a growing stable of ongoing and event-driven video-games-focused content across MTV Networks, including: Video Games on MTV.com and MTV Overdrive; coverage of video games by MTV News; Video Mods on MTV2; Video GameFix, Best Gamer on Campus, the Gamers Ball Tour and programming on MTVU and �ber at MTVU.com; Game�rz week presenting a blitz of games focused programming on all MTV screens; The Video Game Awards and Game Head on Spike TV; and a variety of ongoing specials highlighting games and gaming culture year-round across MTVN�s multiple platforms.

GameTrailers has been an innovator in bringing video-game coverage to life through professionally produced video delivering a variety of must-have content to gamers. GameTrailers� franchise productions include: GTtv game reviews which use actual game play footage to illustrate the highs and lows of popular new games; GTtv previews which give gamers premier access to games before they release; GTtv event coverage which brings gamers inside industry events like E3 and the Tokyo Games Show, and enthusiast events like Blizzcon; GT Weekly, a fast-paced news and features show posted each Thursday in an interactive format allowing gamers to selectively watch the segments they want; and special GTtv features such as developer interviews and game play footage. Overall, GameTrailers.com offers gamers a library of more than 8,000 pieces of broadband video about gaming including original productions, trailers and fan movies.

Jon Slusser, CEO of Gametrailers, said: �We are excited about this acquisition, as it clearly validates our work to date and enhances MTVN's commitment to the video games space by serving a passionate and dedicated audience with top quality content and community. We�ll take advantage of the opportunity to form programming partnerships with MTVN brands and utilize MTVN�s resources to create more content and grow our brand and destination.�

Gametrailers.com and its accompanying site, GT.TV, will continue to operate as stand-alone destinations. Slusser will continue to run the site and join MTV Networks as Vice President of the GameTrailers business.

About GameTrailers

GameTrailers is a leader in the multimedia revolution through its innovative production of broadband video-games content. Gametrailers.com was started by gamers who were tired of waiting in line for slow downloads of small, boring gameplay footage. Gametrailers.com has built a vast library of, high-resolution video that users can stream immediately to their computer. The site serves millions of trailers a month to media-starved gamers. Features offering enhanced personalization and community include game tracking, platform sorting, expanded forums, fan movies, user ratings and the Gametrailer Top20 that ranks the most popular game trailers according to user feedback and number of views.

About MTV Networks

MTV Networks, a unit of Viacom International Inc. (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 100 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, MTVN INTERNATIONAL and THE SUITE FROM MTV NETWORKS which includes LOGO, NOGGIN, VH1 Classic and 10 additional digital services, all of these networks are trademarks of MTV Networks. MTV Networks connects with its audiences through its robust consumer products businesses and its more than 90 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

On June 14, 2005, Viacom�s Board of Directors unanimously approved the creation of two separate publicly traded companies through a spin-off to Viacom stockholders. The company to be spun will retain the Viacom Inc. name and will be comprised of MTV Networks, BET, Paramount Pictures, Paramount Home Entertainment and Famous Music. The other company, to be called CBS Corporation, will combine the CBS and UPN broadcast networks, Viacom Television Stations Group, Infinity Broadcasting, Viacom Outdoor, the CBS, Paramount and King World televisions production and syndication operations, as well as Showtime, Simon & Schuster and Paramount Parks. The spin-off is expected to be completed in the first quarter of 2006.

Cautionary Statement Concerning Forward-looking Statements

This news release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not based on historical facts, but rather reflect the Company�s current expectations concerning future results and events. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause the actual results, performance or achievements of the Company to be different from any future results, performance and achievements expressed or implied by these statements. The forward-looking statements included in this document are made only as of the date of this document, and, under section 27A of the Securities Act and section 21E of the Exchange Act, we do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

  [november 2005]  

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