London: US-based Viacom Inc said yesterday it will buy British TV broadcaster Channel 5 from media baron Richard Desmond for $760m as a keystone to develop its worldwide presence.
Viacom, which owns a stable of cable channels such as MTV, Nickelodeon, Comedy Central and movie studio Paramount Pictures, said the deal will also allow the company to tap new ideas. Channel 5 is the free-to-air network that broadcasts popular hit shows such as reality show “Big Brother” and the crime drama CSI franchise and has more than 43 million viewers per month, according to the company. “We are planning to launch more brands internationally and this will accelerate our ability to (do this),” said Viacom CEO Philippe Dauman on a call with investors, who said this deal was a “rare opportunity.” Reuters
