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ID # 31640
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Other
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1
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1
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$ per
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Release Date |
12-31-69
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| Audition Date |
12-31-69
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Submission Deadline |
12-31-69
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| Shoot Date |
12-31-69
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1
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65 euros ($15
The Viva deal must still pass scrutiny from antitrust and regulatory authorities media properties such as television network CBS, Paramount Pictures, Black Entertainment Television, music channel VH1, publisher Simon & Schuster, Showtime Networks, and radio chain Infinity Broadcasting
The deal announced Thursday values Viva at about 308
"The cultural identity will be preserved â€â€? the local approach 6 million)
The offer represents a 21 percent premium over the three-month weighted average of the stock's price, which has been driven up by speculation about the Viacom-Viva deal, and a 54 percent increase over the 12-month average, said MTV deputy chief executive Simon Guild
The companies said that New York-based Viacom has signed an agreement with 14 shareholders representing 75 , the U
"Subject to review of the formal tender offer, the management board of Viva Media AG supports this transaction," the statement from Cologne-based Viva said
Viacom also gets Viva's channels in Poland, Switzerland, Hungary and the Netherlands as part of the deal 35 million euros ($4 8 million euros ($370 S Viacom Offers to Buy Viva Music Channel
Jun 24, 8:12 AM EST
Viacom Inc
Viacom also owns U
Officials from MTV said they would keep the "cultural identity" of Viva, which prominently plays German pop artists S "
Viva lost 3 8 percent of Viva stock, and would offer to buy the rest for 12 18) a share
The biggest shareholders in Viva are Time Warner Inc parent of the MTV cable network, has agreed to buy a majority stake in money-losing German television music channel Viva and is offering to buy the rest as part of plans to expand in Europe
"Viva has made history in Germany," Catherine Muehlemann, MTV managing director for central Europe, said at a news conference in Frankfurt 0 million) last year, dragged down by an advertising slump in Germany with 30 6 percent and Universal Music with 15
If the company can acquire 95 percent through the offering, it would push for a squeeze-out, or a forced buyout of remaining minority shareholders, Guild said
"The acquisition of VIVA is a significant strategic initiative that would dramatically expand our position in Germany â€â€? the biggest multichannel TV ad market internationally and a key driver of MTV's European growth plans," said Viacom co-president and co-chief operating officer Tom Freston said in a statement 3 percent
