Google to Distribute MTV Shows

Google (GOOG Quote) has got your MTV.

The online search giant will begin distributing clips of Viacom's (VIA Quote) MTV Network shows that contain advertising to other Web sites, according to media reports Sunday.

The agreement could pave the way for similar agreements between other TV networks and Internet companies, ushering in a new wave of Web advertising. The networks would gain access to a broad online audience, while their Internet partners would get a new source of advertising revenue to supplement staples such as paid searches.

Google will test the scheme this month by sending out clips of programs including SpongeBob SquarePants, Laguna Beach and MTVÂ’s Video Music Awards to the network of Web sites where Google currently places paid-search ads.

Internet video is growing at an explosive pace as more households have the necessary broadband connections and relatively new sites like YouTube offer easy and entertaining ways of sharing video.

Google shares ended Friday at $373.85, down $1.54. Viacom stock finished up 76 cents at $34.27.