Exhibit 99

           Paramount Pictures Completes Acquisition Of DreamWorks SKG

HOLLYWOOD, CA (February 1, 2006) -- Paramount Pictures, a unit of Viacom Inc.
(NYSE: VIA; VIA.B), announced today that it has closed on its acquisition of
DreamWorks SKG for $1.6 billion in cash and assumption of debt. The announcement
was made today by Paramount Chairman & CEO Brad Grey. The company noted that it
is well along in its process to sell the DreamWorks live action film library.

Under the agreement, Steven Spielberg and David Geffen of DreamWorks will remain
in their respective roles as producer/director and Chairman. In addition, the
company has entered into an exclusive 7-year agreement to distribute films from
DreamWorks Animation, led by Chairman Jeffrey Katzenberg.

About Paramount Pictures

Paramount Pictures is part of the entertainment operations of Viacom Inc., one
of the leading global entertainment content companies, with prominent and
respected brands in focused demographics across virtually all media.

About Viacom

Viacom is one of the leading global entertainment content companies, with
prominent and respected brands in focused demographics across virtually all
media. Offering programming and content for television, motion pictures and
digital platforms, Viacom's world-class brands include MTV Networks (MTV, VH1,
Nickelodeon, Nick at Nite, Comedy Central, CMT: Country Music Television, Spike
TV, TV Land, Logo and more than 100 networks around the world), BET, Paramount
Pictures, Paramount Home Entertainment, DreamWorks SKG and Famous Music. More
information about Viacom and its businesses is available at
http://www.viacom.com.