Viacom building its own music buffet

Mon, 10/30/2000 - 7:00pm
Karen Kessler-Tanaka

BET Holdings, which owns Black Entertainment Television, is reportedly chewing on an offer from Viacom to acquire its networks.

Hoping to add to its smorgasbord of music and video services, Viacom has offered long-time chairman Robert Johnson $3 billion for the whole enchilada. Johnson owns approximately 60 percent of BET networks.

The BET Holdings ingredients include BET on Jazz, BET Movies/Starz and BET, a competitor to Viacom's MTV and VH1. BET currently feeds the music tastes of 63 million subs.

When this deal is baked, Viacom would own BET outright.

(Next week, a story on the Food Network.)


Share This Story

You may login with either your assigned username or your e-mail address.
The password field is case sensitive.