Channel 5 to be acquired by Viacom International Media Networks

Viacom Inc. (Nasdaq: VIAB, VIA) and Northern & Shell Media Group yesterday announced a definitive agreement for the acquisition of Channel 5 Broadcasting Limited by Viacom International Media Networks (VIMN) for £450 million (approximately $757 million).

The transaction brings 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% of the UK population each month, benefits from the programming grid prominence associated with its public service broadcaster status, and will complement Viacom’s popular pay TV networks, which connect with focused and valuable audiences.