\n\tLONDON\/NEW YORK: Viacom and Northern & Shell Media Group have reached an agreement regarding the acquisition of Channel 5 by Viacom International Media Networks (VIMN) for £450 million ($757 million).<\/p>\n
\n\tUnder the terms of the agreement, Viacom will acquire all brands and assets of Channel 5. This includes the flagship Channel 5 public service broadcaster; 5*, skewed toward a younger audience; 5USA, which features a slew of hit American shows; Milkshake!<\/em>, a morning preschool block; and Demand 5, Channel 5's VOD service. The purchase price of the acquisition will be financed by Viacom’s existing cash balances and the transaction is expected to be accretive immediately after closing.<\/p>\n \n\t“The acquisition of Channel 5 accelerates Viacom’s strategy in the U.K., one of the world’s most important and valuable media markets,” said Philippe Dauman, Viacom's president and CEO. “Channel 5’s momentum is indisputable, with impactful programming, increasing popularity and a growing digital platform. Channel 5’s management and employees have done an outstanding job building their brand and we are pleased to welcome them to our team. Viacom’s global resources, technology and expertise will help Channel 5 develop even more compelling programming and provide content to consumers in exciting new ways. In addition, we will introduce our popular content to new U.K. audiences and create a comprehensive offering for our commercial partners on-air and online.<\/p>\n \n\t“This deal will dramatically increase Viacom’s investment in content produced in the U.K., which has a widely admired public service broadcasting culture and a globally influential production sector. We look forward to partnering with local producers to introduce more U.K.-created content to global audiences, and will continue to explore opportunities in the U.K., both in the free-to-air and pay television markets.”<\/p>\n \n\tPaul Dunthorne, the COO of Channel 5, said, “Since Northern & Shell's acquisition of Channel 5 in 2010, the financial and operating performance of the business has been transformed with improved audiences and content offering. The combination of Channel 5 with Viacom's global resources, technology and expertise adds further to the momentum of the business and offers numerous exciting opportunities for the channel's future.”<\/p>\n","protected":false},"excerpt":{"rendered":" LONDON\/NEW YORK: Viacom and Northern & Shell Media Group have reached an agreement regarding the acquisition of Channel 5 by Viacom International Media Networks (VIMN) for £450 million ($757 million). Under the terms of the agreement, Viacom will acquire all brands and assets of Channel 5. This includes the flagship Channel 5 public service broadcaster; …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-5316","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\n