Viacom's MTV Networks Completes Acquisition of Xfire, Inc.

Viacom's MTV Networks Completes Acquisition of Xfire, Inc.

NEW YORK, May 9 /PRNewswire-FirstCall/ -- MTV Networks, a unit of Viacom Inc. (NYSE:VIA)(NYSE:and)(NYSE:VIA.B), announced today that it has closed its $102 million acquisition of Xfire, Inc., the fastest-growing online gaming communication and community platform in the world. The Company announced it had reached a definitive agreement to acquire Xfire on April 24, 2006.

About Xfire

Xfire, Inc. is the fastest-growing online gaming platform and community in the world that helps gamers play with their friends much more easily. Xfire has 4 million members in more than 100 countries, and is also a server browser, IM, and file download system designed just for gamers.

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

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

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