UPN partner sues Viacom over CBS deal

Article Abstract:

BHC Communications Inc has filed a lawsuit against partner Viacom Inc, in its attempt to thwart the latter's intention to purchase CBS for $36 billion. BHC, a subsidiary of Chris-Craft Industries and co-owner of the UPN TV, claims that Viacom's plan to align with another network violates their UPN joint-operating deal. The lawsuit, filed in a New York state court, states that Viacom cannot invoke other provisions to end their joint-venture agreement.

Legal issues & crime, BHC Communications Inc.

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Chris-Craft sells share of UPN to Viacom

Article Abstract:

Chris-Craft Industries Inc sold its 50% interest in United Paramount Network (UPN) to its partner in the television network Viacom Inc in Mar 20, 2000. The deal, which was worth $5 million in cash, was forced upon Chris-Craft when Viacom exercised a clause in the UPN ownership deal. Under that clause, Chris-Craft is obligated to either buy out Viacom for $5 million or sell for the same price.

Asset sales & divestitures, Acquisitions & mergers, TV Networks, Television networks, Chris-Craft Industries Inc.

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USA Network smacks down WWF bid by rival Viacom/CBS

Article Abstract:

USA Networks has demonstrated its intention of keeping its two-decade relationship with the World Wrestling Federation (WWF). The cable television network has decided to match the five-year offer for the top- rated basic cable program by rival Viacom/CBS. The matching bid, which was announced by USA on Apr 12, 2000, was coupled with the filing of a court injunction in Delaware that would have prevented the WWF from signing any contract with Viacom/CBS.

Contracts & orders received, Cable Networks, Cable TV Networks, Cable networks (Television), USA Networks Inc.

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