MUMBAI: Viacom Inc.s has announced that MTV and Nickelodeon will become full labels under the Paramount Motion Picture Group (PMPG) as part of a new structure designed to deepen their already successful track record with their core target audiences.

The two former production companies, which previously operated as on-lot producers, will now join several other labels under PMPG's umbrella, including Paramount Pictures, DreamWorks SKG, Paramount Vantage and Paramount Classics.

"After successful 12-year stints as production companies at Paramount, we are going to upgrade MTV and Nick to full movie label status," says Viacom president & CEO Tom Freston.
"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 and his team."

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

"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," adds MTV Networks chairman & CEO Judy McGrath. "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."

Additionally, Paramount and MTV Networks 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 Music Group president Van Toffler and Nickelodeon and MTV Networks Kids and Family Group president Cyma Zarghami, states an official release.

Aversano will assume his new position effective immediately, transitioning from his current role as an independent producer for Paramount Pictures. Prior to his producing deal with Paramount Pictures, Aversano spent more than seven years with producer Scott Rudin, most recently as president of Production, the release adds.

"MTV and Nickelodeon are household names with audiences in every corner of the world," says Aversano. "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.