NEW YORK (AP) — Viacom is buying Britain’s Channel 5
Broadcasting Ltd. for 450 million euros (about $757 million), increasing
its investment in U.K-produced content.
The media company said
Thursday that the commercial public service broadcaster is watched by
more than 80 percent of the U.K. population monthly.
Viacom anticipates
that Channel 5 will complement its pay TV networks that include Comedy
Central and MTV.
The deal between Viacom International Media
Networks and Northern & Shell Media Group, which bought Channel 5 in
2010, includes all brands and assets of Channel 5 Ltd. This includes
5(asterisk), 5USA, Milkshake!, Channel 5 and Demand 5.
Viacom Inc. said it will finance the transaction with existing cash balances.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
NEW YORK (AP) — Viacom is buying Britain’s Channel 5
Broadcasting Ltd. for 450 million euros (about $757 million), increasing
its investment in U.K-produced content.
The media company said
Thursday that the commercial public service broadcaster is watched by
more than 80 percent of the U.K. population monthly.
Viacom anticipates
that Channel 5 will complement its pay TV networks that include Comedy
Central and MTV.
The deal between Viacom International Media
Networks and Northern & Shell Media Group, which bought Channel 5 in
2010, includes all brands and assets of Channel 5 Ltd. This includes
5(asterisk), 5USA, Milkshake!, Channel 5 and Demand 5.
Viacom Inc. said it will finance the transaction with existing cash balances.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.