Media giant Viacom Inc (NYSE: VIA) said on Tuesday that it will partner with the much-hyped Joost Internet video service created by the founders of Skype.
Hundreds of hours of programming from Viacom's networks, including MTV Networks, Paramount Pictures, and BET will be available to Joost users free of charge. Financial terms between Viacom and Joost were not disclosed.
Weâ€™re extremely pleased to be working with Joost, and couldnâ€™t be prouder to be a key partner in the launch of the next generation in broadband video technology, said Philippe Dauman, Viacom President and Chief Executive Officer.
The deal comes after a spat earlier this month between Viacom and Internet search giant Google (Nasdaq: GOOG), the owner of the popular video sharing site YouTube. After failing to reach a deal with Google, Viacom demanded the removal of 100,000 unauthorized clips from the site.
Joost was founded by Niklas Zennstroem and Janus Friis, the founders of the Skype Internet voice-call network. The service uses peer-to-peer file sharing technology to deliver video content.
Warner Music Group has also signed a deal with Joost.
Shares of Viacom rose 0.20 percent, or 8 cents to $40.61 in afternoon trading on the New York Stock Exchange.