03-17-2005, 06:31 AM
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 | CEO | | Join Date: May 2005
Posts: 1,309
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| Viacom to Split!
Quote:
Viacom Inc. shares jumped Wednesday after the media holding company said it's considering splitting its broadcast group from its cable properties.
Chairman Sumner Redstone has been consulting with the board of directors on creating two publicly traded companies as a result of the breakup, Viacom said in a press release. Viacom expects to announce its intentions during the second quarter, the company said.
Viacom's MTV and Nickelodeon cable TV channels would be in one company run by current co-president Tom Freston. Its Infinity radio broadcast group and CBS television network would be in the other company run by its other co-president, Leslie Moonves.
| Source
So, Is Time Warner next? |
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