Summary

The FCC approved Viacom's acquisition of CBS, covering 38 TV stations, 162 radio stations, and cable/satellite assets. The combined company received 12-month grace periods to comply with the Dual Network Rule regarding UPN and the 35% household ownership cap, despite reaching over 41% audience reach.

Source document circa 2000 preserved as-is

Thursday, May 4, 2000

CBS/Viacom Deal Wins OK
 The Federal Communications Commission cleared the purchase of CBS by Viacom, an approval that covers 38 television stations, 162 radio stations and cable/satellite programming assets.

The commission also gave the companies additional time to comply with its ownership rules.

In particular, the FCC gave the combined company 12 months to come into compliance with the Dual Network Rule, which prohibits a major television network like CBS from having an ownership interest in another television network, such as Viacomís United Paramount Network (UPN). The combined company would preserve UPN as a viable network during the 12-month period.

The FCC also gave the combined company 12 months to meet an ownership cap on television stations. The rule limits a broadcast entity and the television stations it owns to serve no more than 35 percent of the nation's households. The FCC order noted that the audience reach of the combined company would be above 41 percent.

CBS/Viacom Deal Wins OK
The Federal Communications Commission cleared the purchase of CBS by Viacom, an approval that covers 38 television stations, 162 radio stations and cable/satellite programming assets.

The commission also gave the companies additional time to comply with its ownership rules.

In particular, the FCC gave the combined company 12 months to come into compliance with the Dual Network Rule, which prohibits a major television network like CBS from having an ownership interest in another television network, such as Viacomís United Paramount Network (UPN). The combined company would preserve UPN as a viable network during the 12-month period.

The FCC also gave the combined company 12 months to meet an ownership cap on television stations. The rule limits a broadcast entity and the television stations it owns to serve no more than 35 percent of the nation's households. The FCC order noted that the audience reach of the combined company would be above 41 percent.