SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (date of earliest event reported): January 5, 2001
VIACOM INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-9553 04-2949533
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1515 Broadway, New York, New York 10036
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 258-6000
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Item 5. Other Events.
On January 5, 2001, Viacom Inc., a Delaware corporation ("Viacom"),
announced its intention to sell $1.5 billion of global debt securities to be
comprised of 5-, 10- and 30-year maturities. Proceeds from the sale of
securities will be used to repay existing short-term debt.
A copy of the press release issued by Viacom dated January 5, 2001
describing Viacom's intention to sell the global debt securities, is attached
hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits.
(a) The following exhibit is filed as part of this report on Form 8-K:
99.1 Press Release issued by Viacom date January 5, 2001.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
VIACOM INC.
By: /s/ Michael D. Fricklas
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Name: Michael D. Fricklas
Title: Senior Vice President,
General Counsel
and Secretary
Date: January 5, 2001
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release issued by Viacom dated January 5, 2001.
Exhibit 99.1
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VIACOM TO SELL $1.5 BILLION IN GLOBAL DEBT SECURITIES
New York, New York, January 5, 2001 - Viacom Inc. (NYSE: VIA,
VIA.B) has announced its intention to sell $1.5 billion of global debt
securities to be comprised of 5-, 10- and 30-year maturities. Proceeds from the
sale of securities will be used to repay existing short-term debt.
"This offering enables us to take advantage of attractive
rates and convert our variable rate borrowings into fixed rate issues," said
Fredric G. Reynolds, Chief Financial Officer of Viacom. "In addition, the
pricing will also reflect Viacom's recent ratings upgrade to A3 by Moody's
Investor's Service."
Viacom is the No. 1 platform in the world for advertisers, with preeminent
positions in broadcast and cable television, radio, outdoor advertising, and
online. With programming that appeals to audiences in every demographic category
across virtually all media, the company is a leader in the creation, promotion,
and distribution of entertainment, news, sports, and music. Viacom's well-known
brands include CBS, MTV, Nickelodeon, VH1, Paramount Pictures, Infinity
Broadcasting, UPN, TNN, CMT, Showtime, Blockbuster, and Simon & Schuster. More
information about Viacom and its businesses is available at www.viacom.com.
The global debt securities to be offered have not been and
will not be registered under the Securities Act of 1933, or any state securities
laws, and may not be offered or sold in the United States absent registration
under, or an applicable exemption from, the registration requirements of the
Securities Act of 1933 and applicable state securities laws.
Contacts:
Media Carl Folta Susan Duffy
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Investors Marty Shea Jim Bombassei
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