Resources of CBS Broadcast International and Paramount International Television Combined

Armando Nuñez, Jr. Named President of New Global Television Entity

New Division To Sell and Distribute Wide Range of Programming From Paramount Network Television, CBS Entertainment, CBS News, Paramount Domestic Television,

King World, UPN and Paramount Pictures

(LOS ANGELES, CA, August 10, 2004) - Viacom Inc. (NYSE:  VIA, VIA.B) has formed CBS Paramount International Television, a new global television sales and distribution entity that will merge the significant resources of CBS Broadcast International and Paramount International Television, it was announced today by Leslie Moonves, Co-President & Co-Chief Operating Officer, Viacom.  

"We are combining two outstanding operations to form one great entity that will make Viacom's international television sales business even stronger," said Moonves.  "This restructuring will help maximize our programming resources, efficiently streamline our overseas distribution and establish a programming pipeline that can have a huge impact in the global marketplace."

In addition, Moonves announced that Armando Nuñez, Jr., formerly President of CBS Broadcast International, has been named President of the new combined organization.  Nuñez will report to both Roger King, Chief Executive Officer, CBS Enterprises and King World Productions, and Joel Berman, President, Paramount Worldwide Television Distribution.

Under King and Berman's leadership, Viacom's two domestic syndication companies -- King World Productions and Paramount Domestic Television -- collectively distribute six of the top 10 (and 10 of the top 20) shows in syndication.  These domestic companies will continue to operate independently, Moonves stated.

"I've had the privilege to work with Armando the past five years and have known him even longer," Moonves added.  "He is quite simply one of the most skilled and respected executives in our business with an unmatched passion for and knowledge of the international arena.  I look forward to working with Armando, Roger and Joel as we chart a global course that successfully exploits our programming assets, delivers tremendous benefits to our worldwide customers and creates value for Viacom."

As part of the restructuring, international sales to free, over-the-air broadcast networks and those to pay cable and satellite services will be consolidated into the same management structure under Nuñez. 

The newly formed international operation creates one of the most diverse and prolific pipelines of programming to the international television marketplace.  The programming assets will include:

•·        Paramount network and syndicated programming such as the "Star Trek" franchise, the Emmy Award-winning "Frasier" and the hit CBS drama "JAG"

•·        Feature films from Paramount Pictures, including the recent releases "The Manchurian Candidate" and "Collateral"

•·        CBS News and Entertainment programming such as "Survivor," "Everybody Loves Raymond," "Late Show with David Letterman" and "60 Minutes"

•·        King World syndicated programming "Wheel of Fortune," "Jeopardy!," "The Oprah Winfrey Show" and "Dr. Phil"

•·        UPN's "America's Next Top Model"

•·        Spelling Television series such as "Charmed"

•·        The combined library of CBS and Paramount which features more than 60,000 hours of programming

In his new post, Nuñez will assume oversight of all international distribution, sales and marketing for Viacom's network and syndicated programming assets, as well as Paramount's feature films and the CBS and Paramount television libraries.  He will also direct their nine offices worldwide and manage the company's interests in joint ventures for movie channels in Asia, Australia, Brazil, India, and Latin America, as well as TV1, a series programming channel in Australia.

Said King: "Armando is one of international television's most successful executives.  He has been a key player in making CBI one of the top worldwide suppliers of U.S. programming and sustaining King World International Productions position as a leader in international format sales and local productions.  All of our programming assets will be served well with this new structure and Armando's expertise."

Said Berman: "This new structure gives added power to our already successful international operation.  Paramount has always been a leading player in the global arena and this will position us to further expand a very important part of our business." 

In connection with the restructuring, Gary Marenzi, who has served as President of Paramount International Television since 1997, will be leaving the company.  During his tenure with Paramount, Marenzi successfully spearheaded the integration of the vast Spelling Television and Rysher Entertainment product into the Paramount library.  He also propelled Paramount into co-productions and expanded its presence in key international markets.  Most recently, he brought Sky Television into a co-production with Viacom Productions on USA Network's summer hit, "The 4400."

Said Berman: "Gary has been critical to the success of Paramount International Television.  I consider him a true leader and a friend and have thoroughly enjoyed working with him since he joined Paramount in 1997.  We are grateful for all of his contributions and wish him the best."

Nuñez has held leadership positions in international distribution for the past 20 years.  Prior to CBI, he served as President, Universal International Distribution, overseeing all program sales worldwide as well as the division's expansion in new areas of distribution.  While at Universal, he achieved significant output deals and product sales with ITV, RTL, TF1, SBS and other major broadcasters utilizing a slate of syndicated and network programming, as well as Universal film packages and the extensive MCA library.  Nuñez was also responsible for supplying programming to the Universal global channels and managing the division's offices worldwide.

Nuñez also held posts as President, New World International Television and Executive Vice President, International Sales for Viacom Entertainment.  He is currently a Board member of the International Academy of Television Arts & Sciences and a past Board member of NATPE International.

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