Viacom said on Sunday that it has hooked up with five Hollywood studios to create a new video-on-demand (VOD) service and TV channel.

The joint venture, which is slated to debut in the fall of next year, includes movies, TV series and other video content from Paramount Vantage, Paramount, MGM, Lionsgate and United Artists.

"This venture has the potential to be a game changer for the industry,” said Viacom President and CEO Philippe Dauman, who was a panelist at a session for last year’s The Cable Show ’07 in Las Vegas. “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.”

Viacom will provide operational support to the venture, including marketing and affiliate services through its MTV Networks division.

Paramount has 3,500 motion pictures in its film library, including “No Country for Old Men” and “Transformers.”

MGM has one of the world’s largest modern film libraries, with movies from United Artists, Orion Pictures, Goldwyn Entertainment and other studios.

Viacom’s TV content includes more than 100 channels from cable broadcasters such as MTV, VH1, CMT, Comedy Central and Nickelodeon.

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