NEW YORK – Mega-media company Viacom Inc., announced today that it will become two publicly traded mega-media companies. Sumner M. Redstone, chairman and CEO, announced today that the company’s board of directors has unanimously approved the creation of two separate publicly traded companies in a transaction that will result in stockholders holding shares in both companies, and is expected to be tax-free to shareholders. Following the spin-off, which will be completed in the first quarter of 2006, Redstone will serve as chairman and will be the controlling shareholder of the companies, which will both be headquartered in New York. The...
