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Viacom, P&G strike $300 million ad pact

Viacom and P&G have inked a $300 million advertising deal that will give the package goods maker spots on 12 Viacom outlets including CBS-TV and owned stations, VH-1, MTV, Nickelodeon.

It's the largest so-called cross-platform deal for Viacom yet, with none of the previous deals exceeding $50 million, officials confirmed. The deal, separate from buys that P&G will make in the upfront market, will give Viacom a greater share of P&G's almost $1 billion in TV ad spending, officials on both sides confirmed.

The agreement, two-years in the making, calls for the money to be spent over the next 12 months. Viacom Plus, the cross-platform sales unit coordinated the sale for the media conglomerate. New York ad buyer MediaVest handled negotiations for P&G. - Steve McClellan