RUMOR MILL
Monday, July 31, 2000
VIACOM TO TAKE $700 MIL HIT
IN SECOND QUARTER
Money Will Be Written Off As "Goodwill," Which Does NOT Mean Plenty Of Clothes For The Needy
Entertainment giant Viacom, which recently acquired broadcast behemoth CBS in a deal worth an estimated $47 billion, will take a related $700 million charge in the second quarter, documents showed Friday.
Reuters reports Viacom also revealed in a July 17 filing with the Securities and Exchange Commission that it plans to make accounting adjustments of about $3 billion for the costs of integrating CBS.
The charges will be added to goodwill on Viacom's balance sheet and written off over several years.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMSrumor mail
