MTV (Viacom) struck a license deal with UK based Mini Media Europe Limited to launch MTV branded MP3 players in Europe.

The Pimp My Ride branded MIVI-P1GB plays WMA files and has 1GB internal storage. Other features include SD slot enabling, FM radio and voice recorder. The MTV player is powered by a single AAA battery for approximately 12 hours of playback.

The more advanced MIVI-P1GBV1 (photo) features a 1.5 inch color STN display and can play apparently videos. The MTV branded Mp3 player are supposed to be available this September in Europe. No pricing information available yet.
MTV and Microsoft just recently launched the Music download service URGE.
More details on the Mini Media Europe site. Via Macworld UK.