Viacom expects to make a final decision about dividing itself into two companies by the end of June, its chairman and chief executive, Sumner M. Redstone, said yesterday as he affirmed his interest in
the move at the company's annual meeting. Wall Street has generally warmed to the concept of dividing the company. The faster-growing unit would include MTV Networks and the Paramount movie studio.
The second company would include CBS along with Infinity Broadcasting, Paramount Television and the book publisher Simon & Schuster.
Read the whole story at The New York Times, May 27, 2005 »