MTV forms MTV Interactive (MTVi)

New York-based MTV Networks Online, a unit of Viacom
Inc., has formed MTV Interactive (MTVi), a new Internet-only music company,
which will include music super-brands vh1.com, mtv.com and sonicnet.com.
Nicholas Butterworth, former president of SonicNet, was named president and
CEO of MTVi, and will report directly to Fred Seibert, president of MTV
Networks Online and Chairman of MTVi. "We think there is great value in
forming a company that includes three of the Internet's best music sites,"
said Tom Freston, chairman and CEO of MTV Networks. The appointment of
SonicNet's former President Nicholas Butterworth to serve as president and
CEO of MTVi places one of the Internet industry's pioneers in the driver's
seat of the Internet's top music brands. As president and CEO of MTVi,
Butterworth will be responsible for the growth and development of the MTVi
portfolio including vh1.com, mtv.com and sonicnet.com. Fred Seibert,
president of MTV Networks Online and Chairman of MTVi, said, "Nicholas has
been a visionary and an innovator in the online music industry since its
inception. He is credited with building the SonicNet brand." SonicNet, the
award-winning service first introduced in 1994, will incorporate search engine
technologies developed by the MTV Networks Online "Buggles Project," which
was announced in February. "The new SonicNet will deliver a high-quality
audio and video experience together with simple, easy access to music
purchasing and communities," Butterworth added. "The technology developed
by the Buggles Project will be the key engine driving our new offering."
MTV Networks Online includes, in addition to MTVi, Nickelodeon Online, a
leading portfolio of kids and parents' destinations.