MTV Networks Names Michael J. Wolf President and Chief Operating Officer

MTV Networks Names Michael J. Wolf President and Chief Operating Officer

Media Industry's Leading Business and Advertising Strategist Joins Executive Leadership Team in Newly Created Position

NEW YORK, Nov. 1 /PRNewswire-FirstCall/ -- MTV Networks, a unit of Viacom Inc. (NYSE:VIA)(NYSE:VIA.B), today announced that Michael J. Wolf, former managing partner of McKinsey & Company's Global Media, Entertainment and Information practice, has been named President and Chief Operating Officer.

(Photo: http://www.newscom.com/cgi-bin/prnh/20051101/NYTU106 )

In this newly created senior executive position, Wolf will lead the Company's business and technology operations, including Advertising Sales, Affiliate Sales and Marketing, Business and Strategy Development, Business and Legal Affairs, Finance, Information Systems and Technology, and Production Operations. He will also help in setting and implementing the Company's evolving multiplatform strategy to serve its audiences across all screens with the most compelling content. He will report directly to Judy McGrath, Chairman and CEO of MTV Networks.

"As one of the most respected business and advertising strategists in our industry and our trusted senior advisor for over a decade, we're thrilled that Michael is joining MTV Networks," said Judy McGrath. "His incredible operational, digital media and marketing expertise will help us further extend our global brands across multiple platforms. He will also help us become an even more valuable partner to our advertisers, distributors and international business partners looking to solve their most difficult marketing challenges in today's changing media landscape."

McGrath continued: "I know that Michael's compelling vision about the digital future of our industry will allow us take full advantage of new and emerging opportunities in today's marketplace. And as we continue to transform every aspect of our business, Michael will ensure that we're running as agilely, effectively and strategically as possible. We're very lucky that he is joining us, and I'm very excited to work with him."

"Judy is one of the most talented and visionary executives in the media industry, and I'm delighted to join her and her team to help implement global business strategies," said Wolf. "I look forward to helping the Company accelerate its transformation into a multiplatform business and partnering with advertisers to help them connect with our audiences, wherever they are, in ever more compelling and meaningful ways."

Wolf added, "MTV Networks is the one company in the entertainment industry where the Internet meets television and television meets the Internet. It's the nexus of the new and the old. It's an exciting time to partner with these world-renowned brands that have always been global leaders in both driving and embracing change and innovation."

Wolf has been the leading consultant to the CEOs and senior managers of many of the world's leading media, information, and entertainment companies for the past 16 years and has led a number of the major transactions, strategic alignments and innovations in these industries.

During his tenure at McKinsey & Company, Wolf focused on helping senior management define the future of their companies while solving their most important and complex business problems, including issues surrounding operations, organization, strategy and marketing.

He joined McKinsey in 2001, in an unprecedented move as the firm's first-ever outside senior partner hire. He subsequently built McKinsey's partner group and capabilities into the largest global practice serving the media, entertainment and information industries.

His clients have included many of the top global media conglomerates that are leaders in filmed entertainment, cable television, music, broadcasting, home video, interactive video games, online, magazines, newspapers, educational publishing, sports, DBS, theatrical, theme parks and book publishing. He has also advised companies in the related areas of merchandising, direct marketing, themed retail, toys and consumer electronics.

Before joining McKinsey, Wolf was a Senior Partner with Booz Allen & Hamilton, where he founded and led the Media and Entertainment Group and built it into one of the largest segments of the firm. He served on Booz Allen's Board of Directors and Executive Management Committee and was also the firm's Chief Marketing Officer. In 2000, his partners recognized him with the firm's Professional Excellence Award.

He is a member of the boards of trustees of WNET and WLIW (New York's Public Television Stations), The International Radio and Television Society, the Museum of Television and Radio Media Center and PENCIL (New York's Principal for a Day Program). He is Chairman of the UJA Federation's Entertainment & Media Division.

About MTV Networks:

MTV Networks, a unit of Viacom Inc. (NYSE:VIA)(NYSE: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.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20051101/NYTU106
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: MTV Networks

CONTACT: Carole Robinson, +1-212-846-8760, or Lauren Hurvitz,
+1-212-846-8036, both of MTV Networks

Web site: http://www.viacom.com/

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