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Under the deal, Viacom will have the right to sell against its
own content on Snapchat as well as Snapchat's U.S. owned and
operated advertising inventory, a Snapchat spokesman told
Reuters.
That includes ads in Snapchat's un-partnered "Live Stories"
which curate submitted posts from users in specific geographic
locations or during large holidays, the spokesman added, but did
not disclose the financial terms of the deal.
Viacom is the only television company to have this arrangement
with Snapchat, he said.
The Wall Street Journal earlier reported that a deal was likely
between the two.
Viacom already had a deal with Snapchat that carries content for
Viacom-owned networks Comedy Central and MTV. Snapchat is a
mobile app where photos, videos and messages disappear in
seconds, the Journal said.
Viacom recently appointed Dauman as executive chairman,
replacing majority owner Sumner Redstone, overriding calls for
an independent board chief from Redstone's daughter, who voted
against Dauman.
The decision drew mixed reactions from investors.
SpringOwl Asset Management, a Viacom shareholder that has
agitated for change, was disappointed by the move, while
Permanent Portfolio of Family Of Funds, which is the fifth
largest voting shareholder in Viacom and CBS, applauded Dauman's
appointment.
Snapchat had recently partnered with the National Football
League for its story explorer feature.
The White House had also joined Snapchat on Jan. 11 to reach out
to a younger generation of Americans through social media.
Viacom was unavailable for comment outside regular U.S. business
hours.
(Reporting by Parikshit Mishra in Bengaluru; Editing by Sunil
Nair)
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