Viacom is teaming up with its own Paramount Pictures studio, Metro-Goldwyn-Mayer and Lionsgate to launch the channel in the Autumn of 2009, which will also feature top TV shows such as 'Weeds' and 'Mad Men'.
The launch of Viacom's premium channel will hit rivals in the market HBO, owned by Time Warner, and Showtime owned by Viacom sibling CBS Corp. Both Viacom and CBS are controlled by Sumner Redstone suggesting some friction within his media empire.
The as yet unnamed venture will combine new and classic feature films with original television series and will have access to Paramount and Paramount Vantage titles released at cinemas from the beginning of 2008 and MGM, United Artists and Lionsgate from 2009.
This will give it a slate of top box office movies that will also include 'Pink Panther 2', 'Cloverfield' and 'GI Joe' along with many others currently in production including planned new installments of 'Robocop' and 'Outer Limits'.
Viacom CEO Philippe Dauman, said: "This venture has the potential to be a game changer for the industry. We are building an innovative service that will use traditional and new digital distribution technologies to bring great film and television entertainment directly to the consumer.
"By combining the output of Paramount with MGM and Lionsgate, two film and television powerhouses, we are creating a premium film and television programming brand with unique flexibility to bring consumers the very best blockbuster movies and innovative TV series."
The new releases will be supported by a vast back catalogue of titles from 'Braveheart', 'Forrest Gump', and the 'Mission: Impossible', 'The Godfather', 'Star Trek', 'James Bond' and 'Rocky' franchises.
Viacom will provide operational support to the venture, including marketing and affiliate services through its MTV Networks division.
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