Yahoo! New ad serving system Panama bagged a big catch today, reports Market Watch. Yahoo! has entered into a multi-year agreement to provide all the advertising for Viacom's Web sites, including sponsored search and contextual ads.

The agreement shuts Google out of at least 33 of Viacom's most-important online entertainment sites, including MTV.com, VH1.com, Nickelodeon.com, comedycentral.com and BET.com. Financial terms of the deal, which could be expanded to 140 more sites, were not disclosed.

Just last month Google was sued by Viacom for copyright violation. Actually this decision of Yahoo! has not raised many eyebrows as Google would have been the last option on Viacom's list.