Rogers Wins World Cup Of Hockey TV Rights MLS Sells YouTube Channel KickTV MLB, Nats Claim MASN Is Overreaching ESPN On Sling TV Gets Mixed Reviews Snapchat, Vine Changing How Sports Are Watched Media Notes NBC To Focus On Super Bowl, Not Deflategate FS Indiana Offering Pacers Games On App Canadian Viewership Down For NHL ASG Golf Analyst Nobilo Joins CBS Sports
Upcoming Conferences and Events
UNIVERSAL BUYS OUT VIACOM'S STAKE IN USA NETWORK FOR $1.7B
Published September 23, 1997
Viacom Inc. has agreed to sell its 50% stake in USA Networks to partner Seagram Co.'s Universal Studios for $1.7B, according to Eben Shapiro of the WALL STREET JOURNAL. The deal gives Universal "complete control" of cable networks USA and the Sci-Fi Channel. Seagram Vice Chair Robert Matschullat: "USA is not the endgame. We could buy another cable network to go with this. We have the ability to do more." Universal Studios Chair & CEO Frank Biondi Jr. said USA's schedule, which includes sports coverage such as the U.S. Tennis Open, requires only "fine-tuning. You won't see massive programming changes" (WALL STREET JOURNAL, 9/23). The HOLLYWOOD REPORTER's Andrew Collier reports that Universal "expects to retain current management," including USA Chair & CEO Kay Koplovitz (HOLLYWOOD REPORTER, 9/23).