Story highlights MTV is revamping the MTV Movie Awards by adding honors for TV

The MTV Movie and TV Awards will take place May 7

(CNN) The MTV Movie Awards are about to get bigger by honoring the small screen.

MTV has announced it is expanding its iconic award show for the first time in its 25-year history with the introduction of the MTV Movie and TV Awards.

"We're living in a golden age of content, and great storytelling and characters resonate regardless of whether you're watching it in a theater or on TV," Chris McCarthy, president of MTV, said in a statement. "The new 'MTV Movie and TV Awards' will celebrate even more of the brightest, bravest, funniest and most shared films and TV shows resonating across youth culture."

The revamped ceremony will air from Sunday, May 7.

MTV tells CNN the expanded show intends to keep the iconic popcorn trophy.

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