Nick
06-14-05, 04:31 PM
The Evening Bridge - June 14, 2005
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TOP STORY - This afternoon, Viacom said its board of directors
approved the creation of two separate publicly traded entities from the
company's entertainment brands through a spin-off to stockholders. The
first company created through the tax-free spin-off will retain the
Viacom name and will be comprised of MTV Networks, BET, Paramount
Pictures, Paramount Home Entertainment and Famous Music. The other
company, to be called CBS Corporation, will combine the CBS and UPN
broadcast networks, Viacom Television Stations Group, Infinity
Broadcasting, Viacom Outdoor, Paramount and King World television
production operations, as well as Showtime, Simon and Schuster and
Paramount Parks. Viacom said it expects the transaction to be
completed in the first quarter of 2006.
www.mbc-thebridge.com - used with permission
---------------------------------------------------------------------
TOP STORY - This afternoon, Viacom said its board of directors
approved the creation of two separate publicly traded entities from the
company's entertainment brands through a spin-off to stockholders. The
first company created through the tax-free spin-off will retain the
Viacom name and will be comprised of MTV Networks, BET, Paramount
Pictures, Paramount Home Entertainment and Famous Music. The other
company, to be called CBS Corporation, will combine the CBS and UPN
broadcast networks, Viacom Television Stations Group, Infinity
Broadcasting, Viacom Outdoor, Paramount and King World television
production operations, as well as Showtime, Simon and Schuster and
Paramount Parks. Viacom said it expects the transaction to be
completed in the first quarter of 2006.
www.mbc-thebridge.com - used with permission