Philippe Dauman, chief executive at Viacom , and Kevin Johnson, president of the platforms/services division at Microsoft , discussed the strengths of the partnership in an interview with CNBC.
Microsoft will help Viacom place advertising on its network of entertainment Web sites in the U.S., including MTV.com.
Microsoft will also be the exclusive seller in the U.S. of remnant display advertising -- "leftover" ad space that Viacom has been unable to sell -- company executives said on Wednesday.
The deal replaces online ad firm DoubleClick, whose services Viacom currently employs among other partners.
Full disclosure: Microsoft recently entered into a deal to be the exclusive third-party provider of display and contextual advertising for CNBC.