The move means that Viacom's music and entertainment networks Comedy Central, MTV, Nickeloedon and VH-1 will continue to be available in Sky homes as part of Sky's pay TV platform.
Sky Media will continue to handle all ad sales for the Viacom channels, but will also be responsible for ad sales and sponsorship on Channel 5 and its sister channels, which were acquired by Viacom last year.
Many viewers want to know when Channel 5's HD service will be removed from Sky's pay TV service, so that it can become available as a free-to-view service. Today's announcement sheds no further light on the matter. However, the status of HD versions of commercial public service broadcasters is being reviewed - the current rules requiring Channel 5 to be unencrypted currently only applies to the standard definition version.