Viva Viacom! German Music Station Within Viacom's Grasp

18 June 2004

US media company Viacom is reportedly close to finalising its purchase of a majority stake in struggling German music broadcaster Viva Media.

The €310 million ($373.55m; £203.36m) offer for the 75.5% stake values Viva's shares at €12.60 and awaits approval from Viva's top shareholders such as Time Warner and Vivendi Universal, which together control almost half of Viva's equity.

An announcement is expected any day which, if approved, will confer the title of Germany's largest TV music channel squarely on Viacom shoulders – a position likely to attract scrutiny from industry regulators.

Data sourced from: Financial Times; additional content by WARC staff