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11/11/2002

Viacom 'interested' in ITV

American media giant Viacom are reportedly considering buying into ITV, should the opportunity present itself.
Such a move would be possible under the Government's proposed Communications Bill, which would allow non-EU companies to take a majority stake in ITV and Channel Five.
"We are impressed with the opportunity," said Viacom chairman Sumner Redstone after a meeting of the Royal Television Society in London.
"But we would first have to do a lot of due diligence and make sure any deal would refund dollars to our shareholders from day one. We look at all these assets but I am not ready to say we are buyers, but I am not ready to say we are not."
Viacom operate MTV, Paramount Comedy and Nickelodeon in the UK.
(GB)
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