CBS' Moonves: NFL Problems Spiked Ratings ESPN Allows Panelists To Speak Their Mind CSN Houston Sale Would Affect 75 Jobs CBS Nixes Rihanna From "TNF" Opening Francesa Claims CBS Threatened Lawsuit Media Notes "MNF" Overnight Down Despite Late Win ESPN.com Set To Unveil Site Redesign Sources: Epix Producing Winter Classic Series Dodgers To Air Final Six Games For Free
Upcoming Conferences and Events
LEGISLATION ON CAPITOL HILL PUTS A VIACOM DEAL IN JEOPARDY
Published February 9, 1995
The House Ways and Means Committee approved a bill that would "repeal a tax break for minority owned media companies." The act could jeopardize Viacom Inc.'s plans to sell its cable TV systems for $2.3B "while avoiding hundreds of millions of dollars in taxes." Viacom wants to sell its systems to a Sacramento- based company Mitgo, owned by black entrepreneur Frank Washington. Viacom officials said the deal "could not be preserved unless the tax deal was preserved." Viacom is "anxious to exit" the cable business because the sale would help reduce debt acquired when it bought Paramount last year (Edmund Andrews, N.Y. TIMES, 2/9). A cancellation of the deal would "delay indefinitely a sweeping agreement now pending" between Viacom and TCI (Calmes & Robichaux, WALL STREET JOURNAL, 2/9).