Viacom may complete split process by end 2005

MUMBAI: Global media firm Viacom Inc. has said that the company's transaction to separate into two publicly traded entities will likely be completed by the end of 2005. The Company previously indicated the transaction was likely to be completed in the first quarter of 2006.

An official release contains information relating to the proposed separation of Viacom into two publicly traded companies. In connection with the proposed transaction, Viacom has filed a Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission. Investors and security holders are urged to read the Registration Statement and related materials that are filed with the SEC because they contain important information about the proposed transaction.

Earlier this year, the company had announced it would be separating its businesses into two publicly traded companies. As per the release, the new Viacom will include MTV Networks (MTV, VH1, Nickelodeon, Nick at Nite, Comedy Central, CMT: Country Music Television, Spike TV, TV Land and many other networks around the world), BET, Paramount Pictures, Paramount Home Entertainment and Famous Music.

CBS Corporation will consist of the CBS Television Network, UPN, Infinity Broadcasting, Viacom Outdoor, Viacom Television Stations Group, Paramount Television, King World, Simon & Schuster, Showtime and Paramount Parks, the release adds.

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