MTV Networks President/COO Steps Down

NEW YORK, January 12: Two
senior MTV Networks executives announced their resignations today: president
and COO Michael Wolf and affiliate sales and marketing president Nicole
Browning.

Replacements have not yet
been announced for the two positions, and no reasons were given for their
departures.

Wolf had been in the
position for just 15 months, following a stint as a consultant for the company.
Judy McGrath, the chairman and CEO of MTV Networks, said of Wolf:
"Michael's been a long-time strategic partner to MTV Networks, and we're
grateful to have had his undivided attention devoted to our company for the
past year. We accomplished everything we set out to do together, restructuring
our ad sales and our affiliate sales and marketing businesses for the
multiplatform world by bringing in digital sales expertise and expanding the
reach of our distribution strategy to include VOD, wireless, and internet
partners. Michael completed a strong and actionable long-range plan, and
brought some of our best and brightest minds in to the company. We know he has a lot to offer the media
industry as a whole, and wish him all the best as he moves on to his next
adventure."

Browning, meanwhile, has
been with MTV Networks for two decades. In her current post, she oversaw the
distribution activities of MTV Networks including MTV: Music Television, MTV 2,
MTV Tr3s, Nickelodeon, Comedy Central, TV Land and BET.

MTVN's advertising sales,
affiliate sales and marketing, business and strategy development, business and
legal affairs, finance, information systems and technology, and production
operations units will report directly to McGrath.