Wade Davis Named Senior Vice President of Mergers & Acquisitions for Post-Separation Viacom

Wade Davis Named Senior Vice President of Mergers & Acquisitions for Post-Separation Viacom

NEW YORK, Dec. 7 /PRNewswire-FirstCall/ -- Viacom Inc. (NYSE:VIA)(NYSE:and VIA.B) announced today that Wade Davis has been appointed Senior Vice President of Mergers & Acquisitions for new Viacom, following the separation of the organization into two publicly traded companies. Mr. Davis reports to Michael J. Dolan, Executive Vice President and Chief Financial Officer of Viacom, and is responsible for identifying and assessing potential mergers and acquisitions, managing new Viacom's interactions with the banking and investment communities on strategic transactions, and leading the execution of any transactions the Company is involved in.

Prior to joining Viacom, Mr. Davis was an investment banker in the technology and media sectors for more than a decade. Mr. Davis was formerly a Managing Director, Co-Head of Investment Banking and Head of Mergers & Acquisitions at ThinkEquity Partners. Before joining ThinkEquity in March 2002, Mr. Davis was a Managing Principal of Lazard Venture Advisors, LP, and a Vice President of Lazard Freres & Co. in their Technology, Media and Telecommunications M&A Group. Prior to joining Lazard in March 1999, he was one of the founding members of Wasserstein Perella & Co.'s Technology M&A Group in San Francisco. As an investment banker, Mr. Davis has advised clients including Yahoo!, Reuters, Microsoft, Telefonica, Young & Rubicam Inc., IBM, Electronic Data Systems, Capgemini, Samsung and Alcatel on transactions with an aggregate value of more than $40 billion.

"Wade's extensive M&A experience and leadership skills make him a perfect addition to the new Viacom team," Mr. Dolan said. "His media, technology and telecommunications expertise couldn't be a better fit for us as we begin our new life as a more nimble and focused company looking to capitalize on constantly emerging opportunities. Wade and I will be working closely to identify strategic acquisition opportunities that are consistent with new Viacom's core capabilities, create shareholder value and strengthen our competitive position within the industry."

Mr. Davis has been active in the reform of public education and is currently Chairman of the Board of AdvancePath Academics, a firm that operates technology-based centers that recover and educate high school dropouts. Before becoming an investment banker, Mr. Davis held operating positions in corporate development and strategy at Harley Davidson, Inc. in Milwaukee.

Mr. Davis holds degrees with distinction and honors in both philosophy and economics from Williams College.

Viacom is a leading global media company, with preeminent positions in broadcast and cable television, radio, outdoor advertising, and online. With programming that appeals to audiences in every demographic category across virtually all media, the Company is a leader in the creation, promotion, and distribution of entertainment, news, sports, music, and comedy. Viacom's well-known brands include CBS, MTV, Nickelodeon, Nick at Nite, VH1, BET, Paramount Pictures, Infinity Broadcasting, Viacom Outdoor, UPN, TV Land, Comedy Central, CMT: Country Music Television, King World, Spike TV, Showtime, Paramount Parks, and Simon & Schuster. More information about Viacom and its businesses is available at www.viacom.com.

Earlier this year, the Company announced it would be separating its businesses into two publicly traded companies, and expects the transaction will likely be completed by the end of 2005. The new Viacom will include MTV Networks (MTV, VH1, Nickelodeon, Nick at Nite, Comedy Central, CMT: Country Music Television, Spike TV, TV Land and many other networks around the world), BET, Paramount Pictures, Paramount Home Entertainment and Famous Music. CBS Corporation will consist of the CBS Television Network, UPN, Infinity Broadcasting, Viacom Outdoor, Viacom Television Stations Group, Paramount Television, King World, Simon & Schuster, Showtime and Paramount Parks.

Source: Viacom Inc.

CONTACT: Carole Robinson, +1-212-258-8760, carole.robinson@mtvstaff.com,
or Jeanine Liburd, +1-212-258-7437, jeanine.liburd@mtvstaff.com, both for
Viacom Inc.

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

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