"SpongeBob SquarePants" is set to premiere in 120 million Chinese households by the end of the year. It follows other shows on Viacom's Nickelodeon network, such as "CatDog" and "The Wild Thornberrys," which will air on the children's channel of state-run broadcaster China Central Television (CCTV).

"SpongeBob" is expected to launch in China on or around December 28, the one-year anniversary of the CCTV Children's Channel.

Viacom chairman and CEO Sumner Redstone says, "The concepts of our shows that we've created here (in the U.S.) travel in China and around the world, even though the language is different."

According to Viacom's MTV Networks unit, "SpongeBob" is its most widely distributed property ever, already syndicated in 170 markets in 24 languages.

The character also has been a big consumer products hit, with merchandise available in 22 territories. Globally, "SpongeBob" has generated nearly $4 billion in retail sales since its launch in 2000, according to MTV Networks.