Hulu and Viacom Form Content Partnership

Hulu and Viacom Inc. (NYSE: VIA and VIA.B) today announced a new content partnership that will return "The Daily Show with Jon Stewart" and "The Colbert Report" to Hulu.com and bring many popular TV shows from Viacom's media networks, including Comedy Central, MTV, BET, VH1, Spike TV, and TV Land to the Hulu Plus subscription service.

Under the agreement, current full episodes and clips of "The Daily Show with Jon Stewart" and "The Colbert Report" will be available on the free ad-supported Hulu.com service and through the Hulu Plus subscription service beginning February 2, 2011. In addition, Viacom will make available to Hulu Plus subscribers a selection of current programs, like Jersey Shore, Tosh.0, Teen Mom 2, Manswers, Let's Stay Together, and Hot in Cleveland 21 days after they air. Viacom content availability on Hulu Plus will vary on a show-by-show basis.

Additionally, Hulu Plus subscribers will have access to more than 2,000 episodes of programming from Viacom's library, including The Chappelle Show, Reno 911, Beavis & Butthead, Real World, Punk'd, Baldwin Hills and many others on PCs, internet-connected TVs and Blu-ray players, gaming consoles, set-top boxes, mobile phones, and tablets (in HD when available).

Financial terms of the agreement were not disclosed.

Philippe Dauman, President and CEO of Viacom, said, "We are very pleased to partner with Hulu in a way that recognizes the value of our strong brands and the passionate young fans who are attracted to our content. The Hulu Plus service offers us the opportunity to connect with our audiences through an exciting subscription and ad supported platform that is complementary to our existing distribution arrangements. This innovative agreement allows us to benefit from the success and expansion of Hulu and we look forward to bringing our popular content to their growing audience."

"We are thankful that Viacom was DTS," said Jason Kilar, CEO of Hulu, "Our first order of business in the partnership is GTL with Philippe and his team."

About Viacom

Viacom is home to the world's premier entertainment brands. Through its BET Networks, MTV Networks and Paramount Pictures divisions, Viacom connects with audiences through compelling content across television, motion picture, online and mobile platforms in more than 160 countries and territories. With approximately 170 media networks reaching more than 600 million global subscribers, Viacom's leading brands include MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick Jr., TeenNick, Nicktoons, Nick at Nite, COMEDY CENTRAL, TV Land, Spike TV and Tr3s. Paramount Pictures, America's oldest film studio and creator of many of the most beloved motion pictures, continues today as a major global producer and distributor of filmed entertainment. Viacom operates more than 500 branded digital media properties, including several of the world's most popular destinations for entertainment, community and casual online gaming.

For more information about Viacom and its businesses, visit www.viacom.com.

About Hulu

Hulu is an online TV service whose mission is to help people find and enjoy the world's premium content when, where and how they want it. As we pursue this mission, we aspire to create a service that users, advertisers and content owners unabashedly love. Hulu was founded in 2007 and is operated independently by a dedicated team with offices in Los Angeles, New York, Chicago, and Beijing. NBC Universal, News Corporation, The Walt Disney Company, Providence Equity Partners, and the Hulu team share in the ownership of the company. (www.hulu.com)

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