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Viacom Completes BET Acquisition

January 24, 2001|From Reuters

NEW YORK — Media giant Viacom Inc. said Tuesday that it has completed its acquisition of BET Holdings Inc., which was announced Nov. 3.

BET founder Robert Johnson will remain chairman and chief executive of the unit, reporting to Viacom President Mel Karmazin. When the deal was announced, Viacom said it would pay $2.5 billion in stock for BET.

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