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NEWS | |||||||
Federal Communications Commission 445 12th Street, S.W. Washington, D.C. 20554 |
News media information 202 / 418-0500 Fax-On-Demand 202 / 418-2830 Internet: http://www.fcc.gov TTY: 202/418-2555 |
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This is an unofficial announcement of Commission action. Release of the full text of a Commission order constitutes official action. See MCI v. FCC. 515 F 2d 385 (D.C. Circ 1974). |
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FCC APPROVES TRANSFER OF CBS TO VIACOM; |
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Washington D.C. -- The FCC today approved the transfer of control of the CBS Corporation to Viacom Inc., including approval of the transfer of 38 television stations, 162 radio stations, several translator and satellite stations. In a Memorandum Opinion and Order adopted today approving the transaction, the Commission granted the companies additional time to come into compliance with FCC ownership rules. The Commission said it commonly grants a reasonable time for parties in merger transactions to come into compliance with Commission ownership rules without being required to sell properties at a “fire sale.” In particular, the FCC allowed the combined company the following:
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