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That will give viacom 100 percent of. After supervising warner amex from his position in the office of the president of warner communications, he left warner in 1983 to be chief executive of mtv when it was spun off as an. Viacom already owns 50% of showtime, which it founded in 1976
In november 1985, viacom acquired mtv for $326 million in cash and warrants 12, 1985, and the following month it entered into a merger agreement to acquire the remaining publicly held shares. The rest was owned by warner communications and the american express company.
On january 1, 1986, viacom acquired media company mtv networks acquisition highlights this is viacom’s 1st transaction in the media sector
This is viacom’s 1st transaction in the united states This is viacom’s 1st transaction in new york. In september 1985, viacom purchased the mtv networks and the other half interest in showtime from warner communications, a company that needed cash because its cable interests were suffering in the unfavorable market. In november 1985, viacom bought the remaining 69% of mtv networks from warner for $326 million, the acquisition was completed on may 20, 1986, causing viacom to instantly become a mass media company rather than simply a distributor.
Viacom has owned approximately 65.5 percent of mtv networks since nov
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