Shearman & Sterling is advising Viacom on the £450 million pending acquisition by Viacom International Media Networks of Channel 5 Broadcasting Limited from Northern & Shell Television Group Limited. The transaction is subject to customary regulatory approvals.
Viacom is a long-standing client of the firm and we have assisted the company with a number of key transactions and matters over the years. Viacom International Media Networks, a unit of Viacom, is comprised of many of the world's most popular multimedia entertainment brands, including MTV, Nickelodeon, Comedy Central, BET, Paramount Channel, VH1, VIVA, COLORS, Game One and Tr3s: MTV, Música y Más. Viacom brands are seen globally in more than 600 million households in 170 territories and 37 languages via more than 200 locally programmed and operated TV channels and more than 550 digital media and mobile TV properties.
Channel 5 is the UK's only privately-owned commercial public service broadcaster, owning a family of channels viewed by 80% of the UK population in a typical month.