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Viacom to buy Channel 5 Broadcasting

Staff writer ▼ | May 2, 2014
Viacom, Inc. and Northern & Shell Media Group announced a definitive agreement for the acquisition of Channel 5 Broadcasting Limited by Viacom International Media Networks or VIMN for 450 million pounds ($757 million).
Viacom
ViacomViacom, Inc. and Northern & Shell Media Group announced a definitive agreement for the acquisition of Channel 5 Broadcasting Limited by Viacom International Media Networks or VIMN for 450 million pounds ($757 million).


The transaction brings to Viacom one of British television's biggest brands, and the only commercial public service broadcaster to consistently grow viewership share in recent years.

Channel 5's diverse programming slate is viewed by more than 80 percent of the UK population each month. It will complement Viacom's popular pay TV networks, which connect with focused and valuable audiences.

Under the terms of the agreement, Viacom will acquire all brands and assets of Channel 5 Limited, including Channel 5, 5*, 5USA , Milkshake! And Demand 5.

The purchase price will be financed by Viacom's existing cash balances and the transaction is expected to be accretive immediately after closing.


 

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