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Viacom Buys The 50% Of UPN They Didn't Already Own For $ 5 Million.
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In case you missed it, the potential messy outcome of the
Viacom/Chris-Craft fued over their joint
ownership (50% each company) of UPN ended yesterday (March 20th). Viacom
purchased the 50% of UPN they already didn't own from BHC (Chris-Craft's
parent) for $ 5 million.
This should clear the way for Viacom, since it is merging with CBS, to
close UPN down later this Summer (since the FCC will probably not allow
the combined Viacom/CBS to own more than one broadcast network), with a
handful of UPN's more popular programs ("Star Trek Voyager", "WWF
Smackdown" and a couple of UPN's "urban" sitcoms) migrating to CBS for
the fall season.
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