Viacom Inc.
-- Multichannel News, 4/2/2001
NEW YORK - Viacom Inc. has scrapped its long-deferred plans to fully spin off Blockbuster Inc., according to a securities report from last week. In August 1999, Viacom sold about 18 percent of Blockbuster in a stock offering. Viacom said it planned to offer the other 82 percent stake to Viacom shareholders. But Blockbuster stock never climbed much higher than its $15 offering price-over the past six months, it has traded in the $7 to $14 per share range. The stock closed at $14.10 each on March 28.
