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Viacom International Inc

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BUSINESS
June 10, 1987
Shareholders in Viacom International, a communications and entertainment company headquartered in New York, will receive for each share a cash payment of $43.20; 0.30097 of a share of 15.5% preferred stock of Viacom Inc., having a liquidation preference of $25 per share and accruing dividends from May 1, and 20 cents of a share of common stock of Viacom Inc. The transaction involves 17.4% of common stock outstanding in Viacom Inc., a subsidiary of Dedham, Mass.-based National Amusements Inc.
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BUSINESS
November 4, 1997 | Bloomberg News
Viacom International Inc.'s MTV Networks is suing News Corp. and its Fox Kids Worldwide unit, claiming they illegally hired Richard Cronin, senior vice president of MTV. The suit, filed Friday in New York State Supreme Court in Manhattan, also names Cronin as a defendant. It says Cronin broke his contract calling for him to stay at MTV Networks until June 30, 1998. Fox said last week that it had hired Cronin as chief executive of its Fox Kids network and the Family Channel.
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BUSINESS
August 21, 1992 | From Times Staff and Wire Reports
Viacom Wins Cable Access Suit: Viacom International Inc.'s cable channels will have greater exposure on cable systems owned by Time Warner Inc. under settlement terms ending a three-year, $2.4-billion suit. After years of acrimony and millions spent in legal fees, the victory gives Viacom's Showtime and its sister network, the Movie Channel, access to more homes on Time Warner cable systems. With a total of about 6.
BUSINESS
September 29, 1993 | KATHRYN HARRIS and JAMES BATES, TIMES STAFF WRITERS
Blockbuster Entertainment Corp. has agreed to invest $600 million in Viacom Inc. in a move certain to shore up Viacom's bidding power for Paramount Communications Inc., sources said Tuesday. And Cox Enterprises is in advanced discussions with regional phone companies--predominantly Southwestern Bell--about an additional $600-million investment. Viacom could use the $1.2 billion in cash to sweeten its $7.
BUSINESS
November 4, 1997 | Bloomberg News
Viacom International Inc.'s MTV Networks is suing News Corp. and its Fox Kids Worldwide unit, claiming they illegally hired Richard Cronin, senior vice president of MTV. The suit, filed Friday in New York State Supreme Court in Manhattan, also names Cronin as a defendant. It says Cronin broke his contract calling for him to stay at MTV Networks until June 30, 1998. Fox said last week that it had hired Cronin as chief executive of its Fox Kids network and the Family Channel.
BUSINESS
May 23, 1992 | From Associated Press
IBM is discussing linkups with the nation's largest cable TV operators as part of the computer maker's plan to provide two-way television services, industry executives close to the talks said Friday. IBM is in discussions with Tele-Communications Inc., the nation's biggest cable system operator, Continental Cablevision Inc., the third largest, and Viacom International Inc., another major operator, the executives said, speaking on condition of anonymity.
BUSINESS
September 29, 1989 | From Associated Press
Viacom International Inc. said Thursday that it has reached a watershed in its financial health with a debt restructuring that gives it more money, lower interest costs and fewer restrictions. Viacom International owns MTV, Showtime, the Movie Channel and distribution rights to "The Cosby Show," "Roseanne" and "A Different World" as well as 14 cable-TV systems, five television stations and eight radio stations. Viacom is 83% owned by National Amusements Inc.
BUSINESS
November 10, 1989 | KATHRYN HARRIS, TIMES STAFF WRITER
For the third time in five years, the popular Los Angeles radio station KJOI-FM is changing hands, this time with a sale to Viacom International Inc., which owns nine other radio stations and recently announced plans to acquire two more in San Francisco. In its announcement late Thursday, Viacom said it has agreed to acquire KJOI and two Denver stations owned by Command Communications for $101.5 million.
BUSINESS
April 1, 1989 | KATHRYN HARRIS, Times Staff Writer
In the labyrinth of criminal activity alleged by federal prosecutors, "junk bond" king Michael Milken nearly always dealt with a third party such as speculator Ivan F. Boesky or the investment firm Princeton/Newport Partners to manipulate stock markets or to profit from inside trades. The government identified only two instances of straight insider trading, in which Milken and other unidentified employees of Drexel Burnham Lambert Inc.
BUSINESS
May 23, 1990 | JOHN LIPPMAN, TIMES STAFF WRITER
Negotiations between Viacom International Inc. and Time Warner Inc. to merge their two fledgling cable comedy networks have stalled while both companies are finding that local cable systems are reluctant to carry the networks. Although officials at Viacom and Time Warner said a merger of the two cable networks is still possible, both sides admit that the talks are deadlocked and the prospect for a quick resolution is unlikely.
BUSINESS
September 28, 1993 | KATHRYN HARRIS, TIMES STAFF WRITER
The drama over Paramount Communications Inc. took a new turn Monday, as Viacom Chairman Sumner Redstone said he will make another strategic move within days and the Paramount board continued to hold QVC at bay over the issue of financing. Redstone's comments came as he and Paramount Chairman Martin S. Davis intensified the defense of their friendly deal against QVC's challenge. "In the next 72 hours, we expect some of our plans to become evident," the Viacom chief said. He refused to elaborate.
BUSINESS
September 28, 1993 | ALAN CITRON and JOHN LIPPMAN
For people watching the Paramount Communications circus, one of the best sideshows is the battle of the investment banking stars. It's got chills (reputations are on the line), thrills (what's the strategy?) and even some well-known animal acts (names withheld for obvious reasons). Representing Paramount are Felix G. Rohatyn and Steven Rattner of Lazard Freres & Co. Viacom's friendly bid is being handled by Smith Barney Shearson's Robert Greenhill and Bear Stearns' Alan (Ace) Greenberg.
BUSINESS
September 14, 1993 | JONATHAN WEBER, TIMES STAFF WRITER
Buoyed by a warm Wall Street reaction to their weekend merger agreement, Viacom Chairman Sumner Redstone and Paramount boss Martin S. Davis were all smiles at a news conference here Monday, promising that no one--not even cable mogul John Malone--will disrupt their union. Redstone, waxing euphoric over a deal that will leave him with extraordinary control over an $18-billion entertainment conglomerate, declared: "This marriage will never be torn asunder. Martin and I guarantee that." Viacom Inc.
NEWS
September 13, 1993 | KATHRYN HARRIS, TIMES STAFF WRITER
Viacom Inc. and Paramount Communications Inc. solemnized their vows Sunday, with the two boards approving a merger agreement that gives Viacom Chairman Sumner M. Redstone an astounding 69% of the voting stock: a degree of control seemingly unparalleled for a publicly held entertainment conglomerate. The deal ends a remarkable four-year saga that began with Paramount in the driver's seat, but ended quite differently.
NEWS
September 12, 1993 | JOHN LIPPMAN and AMY HARMON, TIMES STAFF WRITERS
Forget fiber-optic superhighways and the much ballyhooed 500-channel universe. The Brave New World of interactive communications won't amount to much without Hollywood. That is the message behind the impending mega-merger of entertainment giants Paramount Communications and Viacom International. The $16.
BUSINESS
June 3, 1993 | From Times Staff and Wire Reports
Viacom, AT&T Team Up for Interactive TV: American Telephone & Telegraph Co. and Viacom International Inc., the cable TV company whose networks include MTV and Nickelodeon, formed a partnership to bring interactive TV to a small cable system in the San Francisco Bay Area. While neither company will invest in the other, they said the trial of video-on-demand services in 1,000 homes in Castro Valley will be a proving ground for future multimedia services.
BUSINESS
May 6, 1993 | CARLA LAZZARESCHI, TIMES STAFF WRITER
American Telephone & Telegraph is adding its considerable weight to the already crowded fight for a piece of the emerging market for viewer-controlled television and communication services. According to AT&T sources, the nation's largest telecommunications company will team up with Viacom International, a cable television concern, and Bell South, one of the nation's seven regional phone companies, in an ambitious nationwide test of AT&T's still-experimental interactive TV technology.
BUSINESS
June 2, 1993 | From Times Staff and Wire Reports
The nation's two largest high-technology companies, American Telephone & Telegraph and International Business Machines, this week are unveiling rival systems to capture a piece of the emerging market for televised, viewer-controlled entertainment and information services. Dubbed "interactive television," the programming will allow viewers to select movies, pay bills, shop, play games and browse through electronic libraries using a hand-held remote control device.
BUSINESS
May 6, 1993 | CARLA LAZZARESCHI, TIMES STAFF WRITER
American Telephone & Telegraph is adding its considerable weight to the already crowded fight for a piece of the emerging market for viewer-controlled television and communication services. According to AT&T sources, the nation's largest telecommunications company will team up with Viacom International, a cable television concern, and Bell South, one of the nation's seven regional phone companies, in an ambitious nationwide test of AT&T's still-experimental interactive TV technology.
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