MCA and Robert W. Pittman will form a new firm.

Pittman, currently president and chief executive of Viacom International’s MTV Networks, is expected to leave that post after Jan. 1 to launch the new firm, described as a “diversified entertainment and communications company.” Even though Pittman and MCA will be 50-50 partners, MCA President Sidney J. Sheinberg said his company will provide 100% of the new venture’s funding at the outset. As its first undertaking, the firm will form a new record label with MCA Records and include Viacom as a participant.