Viacom Announces India JV

MUMBAI/NEW YORK, May 22: Viacom has formed a 50-50 joint
venture with India’s TV18 Group that will include the launch of a new Hindi-language
general entertainment cable and satellite channel in the lucrative market
within the next year.

TV18’s other international partnerships include CNBC-TV18
and CNBC Awaaz with NBC Universal and CNN-IBN with Turner Broadcasting. Its
network also includes IBN 7, a Hindi-language general news channel in
partnership with the Jagran Group, owners of India’s largest Hindi-language
daily. In the online space, the company owns WEB18, which operates
moneycontrol.com, commoditiescontrol.com, ibnlive.com, poweryourtrade.com,
indiaearnings.com and tech2.com, among other sites.

Viacom-18 was unveiled at a press conference in Mumbai with
Philippe Dauman, the president and CEO of Viacom, and Raghav Bahl, the managing
director of the TV18 Group. The venture will launch a new general entertainment
channel in India that will include original, locally produced programming and
acquisitions. MTV Networks will contribute its local channels—MTV, VH1
and Nickelodeon—to the joint venture. Viacom-18 will also launch a
further suite of niche channels in the future from the MTV Networks portfolio,
as well as new brands. Digital media content across all of the television
brands will be developed and distributed to Indian consumers. The joint venture
will also syndicate MTVN programming and newly produced content.

The TV18 Group will contribute its Motion Pictures division,
which produces, acquires and distributes Hindi-language films, to the joint
venture. In the coming months, Viacom’s Paramount Pictures and DreamWorks
studios will explore additional opportunities for collaboration with Viacom-18.

“India is one of Viacom’s priority markets for expansion
internationally,” commented Dauman. “This partnership will transform and
significantly enlarge our business to offer audiences greater content diversity
across platforms, and opportunities for advertisers to reach the full spectrum
of demographics. The film operation for Viacom-18 will provide strong synergies
with the TV and digital media business, as well as complement our Paramount and
DreamWorks studios. We are delighted to enter into this partnership with TV18,
the most forward-looking, entrepreneurial media company in India.”

Further announcements about Viacom-18, including management
and content plans, will be made in the coming weeks.