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BULLETIN: Viacom Inc. to Buy Remaining Share of Comedy Central Cable Channel Apr 03
Standard & Poors, April 2003
Abstract
NEW YORK (Standard & Poor's) April 22, 2003-Standard & Poor's Ratings Services said today that Viacom Inc.'s (A-/Stable/A-2) plan to acquire the remaining 50% of cable channel Comedy Central for $1.225 billion has no effect on its rating or outlook. The move does temporarily consume some of the company's unused debt capacity within the rating, but its strong free cash flow can accommodate the investment. Comedy Central, reaching 75 million homes, is an attractive asset to integrate with Viacom's existing basic cable channels; MTV, Nickelodeon, TV Land, VH1, TNN, CMT, and BET. The company stands to realize integration benefits that will expand the margins of the channel. Viacom reported 12% growth in EBITDA and margin expansion in the first quarter...
Companies mentioned in this report are: CBS Corp.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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