Mumbai / New York– Viacom Inc. and the TV18 Group have jointly created Viacom-18, a new 50/50 joint venture operation in India, in a strategic alliance which will include television, film and digital media content across brands. The deal supported by Ambit Corporate Finance Pte Ltd and BMR Advisors is subject to regulatory approval and other closing conditions. A media teleconference took place on May 22, 2007 at 1500hrs Mumbai time (10:30hrs London / 17:30hrs Hong Kong) featuring President & Chief Executive Officer of Viacom, Philippe Dauman; Managing Director of TV18 Group, Raghav Bahl; and Vice Chairman of MTV Networks, Bill Roedy. The teleconference is available for replay. The agreement will see Viacom-18 launch a new Hindi-language general entertainment cable and satellite channel in India within 2008. It will include original, and local produced programmes as well as acquisitions.