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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
______________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
MAY 22, 2003
VIACOM INC.
________________________________________
(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 File Identification
of incorporation Number Number
1515 Broadway, New York, NY 10036
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(Address of principal executive offices) (Zip Code)
(212) 258-6000
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(Registrant's telephone number, including area code)
Item 5. Other Events
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On May 22, 2003, Viacom Inc. ("Viacom" or the
"Registrant") announced that it had completed its acquisition
from AOL Time Warner Inc. ("AOL") of the remaining 50%
partnership interest of Comedy Partners, a New York general
partnership ("Comedy Partners"), that it did not already own
for $1.225 billion in cash. Prior to the acquisition, Comedy
Partners, which operates the cable channel Comedy Central,
was a joint venture between wholly-owned subsidiaries of
Viacom and AOL.
A copy of the press release issued by Viacom dated May
22, 2003 relating to the above-described transaction is
attached hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
Exhibit No. 99 - Press release, dated May 22, 2003,
issued by the Registrant.
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.
(Registrant)
By: /s/ Michael D. Fricklas
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Michael D. Fricklas
Executive Vice President,
General Counsel
and Secretary
Date: May 22, 2003
EXHIBIT INDEX
Exhibit No. 99 - Press release, dated May 22, 2003,
issued by the Registrant.
VIACOM COMPLETES ACQUISITION OF AOL TIME WARNER'S
50% INTEREST IN COMEDY CENTRAL
New York, NY, May 22, 2003 -- Viacom Inc. (NYSE: VIA and
VIA.B) has completed the acquisition of AOL Time Warner's
(NYSE: AOL) 50% interest in Comedy Central for a total of
$1.225 billion in cash, the companies announced today. With
the completion of the transaction, Comedy Central is wholly
owned by Viacom and joins MTV Networks' lineup of basic
cable channels. The agreement was announced on April 22.
Comedy Central, the only all-comedy network, reaches 82
million U.S. households with a schedule that includes an
eclectic mix of original programming, stand-up comedy,
sketch comedy and movies. Current hits on the network are:
"South Park," "The Daily Show with Jon Stewart,"
"Chappelle's Show," "The Man Show," "Insomniac with Dave
Attell" and "Tough Crowd with Colin Quinn." Also included
in the transaction is comedycentral.com, which features
original programs, schedule information, advanced
technology, games, downloads and an online store.
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Contacts: VIACOM AOL Time Warner
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Susan Duffy Mia Carbonell
Vice President, Vice President
Corporate Relations Corporate Communications
(212) 258-6347 (212) 484-6684