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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): June 27, 1995
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.
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Viacom Inc. ("Viacom") determined not to extend the July 7, 1995 maturity
date on its Contingent Value Rights ("CVRs") and has elected to pay in cash the
value of the CVRs upon maturity on July 7, 1995 in accordance with the CVR's
terms. A copy of the press release, dated June 27, 1995, relating to the
above-described event is attached hereto as Exhibit 99.1 and is incorporated
herein by reference.
Item 7. Financial Statements and Exhibits.
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(c) The following exhibit is filed as part of this report on Form 8-K:
99.1 Press Release issued by Viacom Inc. dated June 27, 1995.
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.
Date: June 29, 1995 By: /s/ Michael D. Fricklas
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Name: Michael D. Fricklas
Title: Senior Vice President,
Deputy General Counsel
EXHIBIT INDEX
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Exhibit No. Description
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99.1 Press Release issued by Viacom Inc. dated June 27, 1995
EXHIBIT 99.1
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Viacom will not extend CVR maturity date
New York, New York, June 27, 1995 -- Viacom Inc. (AMEX: VIA and VIAB)
announced today that it will not extend the July 7 maturity date on the
approximately 57 million outstanding contingent value rights (CVRs) issued in
connection with the Companys merger with Paramount Communcations Inc.
Viacom said that, based on trading to date, the Companys payment to CVR
holders is expected to be approximately $1.44 per CVR in cash, or a total of
approximately $83 million. The Company noted that the maximum exposure had
declined from $12 per CVR, or a total of approximately $687 million at the time
the CVRs were issued.
Under terms of the CVRs, payment will be made through the paying agent,
Harris Trust Company of New York.
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Contact: Carl Folta
212-258-6352