MTV Networks Further Boosts Online Presence

NEW
YORK/SAN FRANCISCO, August 9: The online asset buying spree at MTV Networks
continued today with a $200-million deal to acquire Atom Entertainment, a
portfolio of four leading online destinations for casual games, short films and
video.

Atom’s
destinations include Shockwave.com and AddictingGames.com, two of the
internet's largest casual gaming sites, offering nearly 1,500 free and
downloadable games; as well as AtomFilms.com and AddictingClips.com, film and
video sites for short-form comedy, animation, drama and user-generated content.

The
move is part of the company’s multiplatform strategy to deliver music, gaming,
entertainment, news and interactivity to targeted audiences, and follows the
acquisitions of XFIRE, Y2M, GameTrailers.com, IFILM and Neopets.

“This
acquisition is right on the money with our digital strategy,” said Tom Freston,
the CEO of Viacom. “It adds great scale with users, improves our growing casual
gaming position, and brings a world-class digital video library and a fantastic
management team."

"Atom
Entertainment is a best in class and dynamic property, with brands that have
dedicated, passionate followers and content that resonates with our global
audience," added Judy McGrath, the chairman and CEO of MTV Networks.
"This acquisition is in line with our business strategy of being a leader
in the digital space and connecting with consumers on every platform and device
they use."

The
acquisition is expected to close in the third quarter of this year.