Viacom International, the US cable television group is to buy Paramount Communications, the entertainment and publishing company, for $8.2bn (£5.32b) in the biggest US media takeover since Time and Warner in 1989.
Viacom’s channels include MTV and Nickelodeon. Paramount is best known for its Paramount Pictures Film Studio and its Paramount theme parks. The deal should allow the new company to compete more effectively around the globe. The deal is expected to be completed in late 1993 or early 1994.
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