The two companies' brands will feature prominently on the MTV and Comedy Central mobile TV channels, which feature shows such as 'The Real World', 'South Park' and 'The Daily Show with Jon Stewart'.
In addition, with this deal MTV is expanding its range of mobile content, Philippe Dauman, president and CEO of MTV parent Viacom, revealed at the CTIA Wireless 2007 convention in Florida yesterday.
It has just launched mobile websites for MTV, VH1 and Comedy Central, on which Intel and Pepsi will also feature. These will be followed in the second quarter of this year by mobile websites for CMT, Logo, Nickelodeon, Spike TV and TV Land.
Dauman said: "With the introduction of mobile advertising, MTVN creates an entirely new revenue stream, as well as a new way to fuel further content innovation and growth on mobile.
"I'm thrilled that MTVN is taking this step toward fully unlocking the value of its mobile portfolio with strong, credible, and widely recognised brands like Pepsi and Intel."