MTV AND NICK RISE IN PARAMOUNT HIERARCHY

MTV and Nickelodeon will become full labels under Viacom’s Paramount Motion Picture Group as part of a new structure designed to take advantage of their successful track record with core target audiences. The two former production companies, which previously operated as on-lot producers, will now join Paramount Pictures, DreamWorks SKG, Paramount Vantage and Paramount Classics under the umbrella.

Said Viacom President/CEO Freston: "After successful 12-year stints as production companies at Paramount, MTV and Nick have been upgraded to full movie label status. This will expand their role at Paramount, will better leverage their considerable talent and marketing capabilities, and will allow for smoother day-to-day management on the lot with strong connections back to the core brands. This move plays perfectly to our company's unique strengths and will surely increase the positive momentum that we're seeing at Paramount under the leadership of Brad Grey and his team. Is this something that might interest you?"

Added Paramount Pictures Chairman/CEO Brad Grey: "MTV and Nickelodeon are two of the strongest brands in entertainment reaching families and young adults. We look forward to great films and a great future with these two new labels at the Paramount Motion Picture Group."

Said MTV Networks Chairman/CEO Judy McGrath: "In partnership with Paramount, this new model represents a great opportunity to build on the growing success we've experienced making movies over the last decade. We believe that together we can take these brands to the next level, attract the best talent and material across genres, and really tap into our strong relationships with kid, teens, young adults and families around the globe."

Paramount and MTV Networks today named veteran producer Scott Aversano President of MTV Films and Nick Movies, giving him responsibility for film development, production and acquisitions for the two film labels. Aversano will work on the lot, reporting to Paramount Pictures President Gail Berman. On all image- and brand-related matters for these pictures, he will also report to MTV Networks Group President Van Toffler and Nickelodeon and MTV Networks Kids and Family Group President Cyma Zarghami.

Aversano is currently an independent producer for Paramount. Prior to that, he spent more than seven years with producer Scott Rudin, most recently as President of Production.

Said Aversano: "MTV and Nickelodeon are household names with audiences in every corner of the world. I'm excited to embark on this new challenge to continue bringing movies to the marketplace that utilize Viacom's unique strengths in targeted demographics."

MTV Films and Nick Movies will continue to release films targeted to their respective demographics; with Nick Movies releasing animated and family films, and MTV Films focusing on comedies, documentaries, urban fare and horror films for teens and young adults.

Among recent Nick Movies are the Jack Black comedy, Nacho Libre, directed by Napoleon Dynamite’s Jared Hess and CGI-animated film Barnyard starring Kevin James and Courteney Cox, written and directed and produced by Steve Oedekerk (Ace Ventura, Nutty Professor).

Nick Movies is currently in pre-production on the The Spiderwick Chronicles and in December, will release a live-action version of the classic children's book, Charlottes Web, starring Dakota Fanning, Julia Roberts and Oprah Winfrey. Previous hits include Lemony Snicket’s A Series of Unfortunate Events, starring Jim Carrey, The Spongebob Squarepants Movie and The Rugrats Movie.

MTV Films hits include Napoleon Dynamite, Election, The Longest Yard, Varsity Blues, Save the Last Dance, the Oscar-nominated documentaries Murderball, Tupac: The Resurrection and the Oscar-winning musical drama Hustle & Flow. Upcoming releases include Freedom Writers with Hilary Swank, Jackass: Number 2 featuring Johnny Knoxville, and, with DreamWorks, the comedy Blades of Glory, with Will Ferrell and Jon Heder.

At Rudin, Aversano oversaw production on a variety of films including Failure to Launch, Team America, Lemony Snicket, The Manchurian Candidate, The School of Rock, Changing Lanes and Orange County.

Prior to joining Rudin, he was Director of Development at Paramount Pictures from 1997 through 1999, where he served as an executive on 12 films and 75 development projects, including Wonder Boys, South Park, Bringing out the Dead and Runaway Bride.

Aversano started his career in the entertainment industry at Sid Ganis' Out of the Blue Entertainment in 1996.

Aversano graduated from Brown University and has a M.A. in English Literature from University of Michigan.