VIACOM/BLOCKBUSTER SHAREHOLDER VOTE COMES TODAY
Published September 29, 1994
Blockbuster Entertainment shareholders meet in Ft. Lauderdale today to vote on the company's proposed merger with Viacom. Analysts expect the deal to be approved with 22% of Blockbuster stock committed to the deal. Management needs to win about a third of the uncommitted shares to win the vote. Craig Bibb, Paine Webber media analyst: "95% of all deals recommended by the board happen" (Don Finefrock, MIAMI HERALD, 9/29). Viacom and Blockbuster stocks were "among the most active" stocks yesterday. Blockbuster stock closed +3/4 to 28 1/8 while Viacom B stock was +1 3/4 to 38 3/4 ("Business Insiders," CNBC, 9/28).