Viacom Completes Sale of Paramount Pictures' DreamWorks Film Library

Viacom Completes Sale of Paramount Pictures' DreamWorks Film Library

NEW YORK, May 8 /PRNewswire-FirstCall/ -- Viacom Inc. (NYSE:VIA)(NYSE:and VIA.B) announced today that it has completed the sale of Paramount Pictures' DreamWorks film library to Soros Strategic Partners LP and Dune Entertainment II LLC, an affiliate of Dune Capital Management LP. The companies announced they had entered into an agreement for the transaction on March 17, 2006. As previously announced, the transaction values the film library at $900 million.

About Paramount Pictures

Paramount Pictures is part of the entertainment operations of Viacom Inc., one of the leading global entertainment content companies, with prominent and respected brands in focused demographics across virtually all media.

About Viacom

Viacom is one of the leading global entertainment content companies, with prominent and respected brands in focused demographics. Offering programming and content for television, motion pictures and digital platforms, Viacom's world-class brands include MTV Networks (MTV, VH1, Nickelodeon, Nick at Nite, Comedy Central, CMT: Country Music Television, Spike TV, TV Land, Logo and more than 100 networks around the world), BET, Paramount Pictures, Paramount Home Entertainment, DreamWorks SKG and Famous Music. More information about Viacom and its businesses is available at http://www.viacom.com/ .

Source: Viacom Inc.

CONTACT: Media: Jeremy Zweig, +1-212-846-7503, jeremy.zweig@viacom.com,
or Investors: James Bombassei, +1-212-258-6377, james.bombassei@viacom.com,
both of Viacom Inc.

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

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