Viacom Prices $850M Debt Deal

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Viacom priced the debt offering it announced earlier
Wednesday, increasing the amount of the deal to $850
million from $750 million.

In a statement late Wednesday, Viacom said it sold $600
million in 4.375% senior notes due 2014 and $250 million in 5.625% senior notes
due 2019. The sale is expected to close on Aug. 26.

Viacom intends
to use the net proceeds from the offering to fund its previously announced
tender offer for its 5.75% Senior Notes due 2011 (the "2011 Notes")
and, to the extent any proceeds remain, to repay borrowings under its revolving
credit facility and/or commercial paper program.

Deutsche Bank Securities, Citigroup Global Markets and RBS
Securities are the joing book running managers for the senior notes.

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