Viacom acquires stake in Viva Media; launches public tender offering

MUMBAI: Viacom has completed its acquisition of 75.83 per cent of Viva Media AG from 14 shareholders today. Aditionally, the global media giant is also launching a public tender offer on 24 August 2004.

Vicaom Holdings Germany LLC's public tender offer to Vivas Media AG shareholders to acquire all outstanding shares (as announced on 23 August 2004) is now unconditional with all conditions precedent having been fulfilled or deemed to be fulfilled, informs a Viacom communique.

The required regulatory approval was secured from the Federal German cartel office (Bundeskartellamt) earlier.

The German Commission on concentration in the media (Kommission zur Ermittlung der Konzentration im Medienbereich, KEK) has agreed to acquire a majority stake in Viva Media, its only German music television rival.

Vicaom ACOM also closed a separate agreement pursuant to which Viacom acquired the Time Warner-participation in Viva Plus, a joint venture of VIVA Fernsehen GmbH (51 per cent) and Time Warner (49 per cent), adds the release.

Viacom a leading global media company, with pre-eminent positions in broadcast and cable television, radio, outdoor advertising and online has a well-known brands include CBS, MTV, Nickelodeon, VH1, BET, Paramount Pictures, Infinity, Viacom Outdoor, UPN, Spike, Country Music Television, Comedy Central, Showtime, Blockbuster and Simon & Schuster.

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