Viacom hints over cable bid | |
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12-03-2004
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After restoring its relationship with satellite giant EchoStar, US media conglomerate Viacom, is suggesting it could buy a cable television network in the US, according to local reports. Sumner Redstone, Viacom's CEO, said the company might decide to buy into cable if it was felt such a deal would contribute to the growth of the business. Redstone is said to have denied an acquisition would be made for "defensive purposes", or that a takeover bid was imminent - but said a time might come "where we could decide ... for the future growth of Viacom we could add more distribution, for example, cable systems." | ||
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