Viacom Completes BET Acquisition

By R. Thomas Umstead
published

Viacom Inc. announced the completion of its $3 billion purchase of BET
Holdings Inc. II Wednesday.

The deal -- which consists of Viacom class-B common stock and assumption of
debt -- was initially announced in November.

Viacom acquires cable networks Black Entertainment Television, BET on Jazz:
The Jazz Channel and BET International, as well as BET Books and BET
Pictures.

BET founder Robert L. Johnson remains chairman and CEO of the unit, reporting
to Viacom president and chief operating officer Mel Karmazin. Debra Lee will
remain in her capacity as BET's president and COO.

BET will also retain its offices in Washington, D.C.; New York; Los Angeles;
Chicago; and the United Kingdom.

R. Thomas Umstead
R. Thomas Umstead

R. Thomas Umstead serves as senior content producer, programming for Multichannel News, Broadcasting + Cable and Next TV. During his more than 30-year career as a print and online journalist, Umstead has written articles on a variety of subjects ranging from TV technology, marketing and sports production to content distribution and development. He has provided expert commentary on television issues and trends for such TV, print, radio and streaming outlets as Fox News, CNBC, the Today show, USA Today, The New York Times and National Public Radio. Umstead has also filmed, produced and edited more than 100 original video interviews, profiles and news reports featuring key cable television executives as well as entertainers and celebrity personalities.