Viacom Buys The 50% Of UPN They Didn't Already Own For $ 5 Million.

[PublicRef2 <norwood@mln.lib.ma.us>]

I'm not sending this through my usual E-Mail server. To respond, reply
o: <notquite@hotmail.com>. Thanks!

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.

Joseph Gallant
Reply to: <notquite@hotmail.com>