MTV Networks announced on Monday they signed a marketing deal Midway Games Inc to launch three new video games and to collaborate on soundtrack development for three upcoming games. Under the deal, MTV is able to participate in a royalty sharing structure.

The first game will be an arcade racing video game, named L.A. RUSH, which will be promoted by the crew from the MTV show, "Pimp My Ride," West Coast Customs.

Viacom Inc chairman and CEO Summer M. Redstone, who owns a majority of the voting shares of both MTV and Midway, said, "I am delighted that Midway is the first to enter into this exciting new business model, which harnesses the power of MTV's brands, intellectual property and promotional engine to Midway's top-rated games development and publishing abilities."

He also adds "And I am also delighted to report that the independent special committee of Viacom's board, which oversees relationships between Viacom and Midway recommended board approval, and that this recommendation was accepted by the full Viacom board."

"MTV is a key partner in terms of overall marketing reach. Their programming truly defines pop culture worldwide," said Midway President and Chief Executive David Zucker. "By combining forces with MTV, we ensure that great titles like 'L.A. Rush' get the maximum amount of exposure."