The company was established in 1984 as MTV Networks after Warner Communications and American Express decided to divest the basic cable assets of Warner-Amex Satellite Entertainment, renaming it MTV Networks, Inc. The following year, Viacom acquired 66% of the company, and then acquired the remaining interest in 1986. It was then folded into Viacom International Inc., a subsidiary of Viacom Inc., and is no longer a distinct legal entity.
Warner-Amex originally created and owned Nickelodeon, MTV, VH1, and The Movie Channel (now part of Showtime Networks owned by CBS Corporation). It has also recently made a partnership with NEXON Inc. to promote its Neopets service.
MTV Networks International includes the premier multimedia entertainment brands MTV: Music Television, VH1, Nickelodeon, TMF (The Music Factory), VIVA, Flux, Paramount Comedy, Comedy Central, Game One, Neopets, GameTrailers, Shockwave, Addicting Games, Atom Films and Xfire. MTV Networks' brands are seen globally in 560 million households in 162 countries and 33 languages via more than 150 locally programmed and operated TV channels and more than 350 digital media properties.
The company's diverse holdings also include interests in television syndication, digital media, publishing, home video, radio, recorded music, licensing & merchandising and two feature film divisions, MTV Films and Nickelodeon Movies. MTV Networks is a unit of Viacom Inc. (NYSE: VIA, VIA.B).