(VIA) Viacom Closes Tender Offer

August 31st, 2009

On Friday, Viacom Inc. (VIA) announced the expiration of its cash tender offer, which began on August 19. The company intended to purchase all or part of its outstanding 5.75% senior notes due 2011.

To fund its cash tender offer, Viacom agreed to sell senior notes worth $850 million, consisting of 4.375% of $600 million notes due 2014 and 5.625% of $250 million notes due 2019.

At close of the offer, Viacom has bought $1,306.6 million of total principal amount of senior notes due 2011, representing 87.1% of the $1,500 million total principal amount.

Holders of the senior notes will receive $1,061.25 per $1,000 principal amount. Viacom will also pay any interest due and outstanding from the date of last interest payment (April 30) to the date prior to the settlement date (August 31).

Viacom is a vertically integrated company with a diversified and highly complementary portfolio of top media franchises. It is a global leader in the creation, promotion and distribution of entertainment, news, sports and music programs. The company owns well-known brands such as MTV, Country Music Television, Nickelodeon, Nick at Nite, VH1, BET, TV Land, Comedy Central, Spike TV and Paramount Pictures.

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