Videogames are the new Internet, or so we're told. Viacom is among the big media companies renewing a flirtation with the market for developing games — and swearing that this time, the love's for real. Viacom's MTV Networks is dumping $500 million into developing videogames for its various TV properties over the next two years — hot on the heels of a similar $100 million pledge by Nickelodeon, another Viacom-owned cable channel. The company already runs virtual world Nicktropolis and digital pet-nurturing site Neopets, and recent acquisition Harmonix will launch the highly anticipated music game Rock Band. Kids may no longer want their MTV on cable — but Viacom's hoping to hold onto them as their attention shifts to PlayStations, Xboxes, and Wiis. Consider the investment a half-billion-dollar console-ation prize.

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