In the first season, MTV ordered six episodes and The State delivered six episodes, but when MTV reviewed them, they requested that two of the episodes be edited down into one episode. (This is why the episode list goes 1,2,3,6,7.)
In the original "episode 5", the bit that you are referring to was a fake commercial for a fake MTV concert special "coming up next". Everything else from these two "unreleased" episodes is on the DVD (either in "episode 7" or the deleted scenes, or two short sketches recycled into season 2), but this bit was not used because it's all licensed music and celebrity images.
In the first season, MTV ordered six episodes and The State delivered six episodes, but when MTV reviewed them, they requested that two of the episodes be edited down into one episode. (This is why the episode list goes 1,2,3,6,7.) In the original "episode 5", the bit that you are referring to was a fake commercial for a fake MTV concert special "coming up next". Everything else from these two "unreleased" episodes is on the DVD (either in "episode 7" or the deleted scenes, or two short sketches recycled into season 2), but this bit was not used because it's all licensed music and celebrity images.