A Recent History of Viacom MARCH, 1993: Beavis & Butt-head debuts on MTV. SEPTEMBER, 1993: Stock hits all-time high of 67 1/2. Redstone announces acquisition of Paramount, says Viacom will soon be world's largest media empire. JULY, 1994: After a bitter battle with Barry Diller, Viacom acquires Paramount for $10 billion, 25% more than originally planned. SEPTEMBER, 1994 $8.4 billion Blockbuster merger is finished. Viacom immediately writes down about $318 million of tape inventory. FEBRUARY, 1995: Viacom is now the No.2 entertainment company in the world. Thanks to accounting changes, Blockbuster reports huge gains in cash flow. SEPTEMBER, 1995: Viacom narrowly dodges having to issue millions of new shares to compensate former Blockbuster holders. NOVEMBER, 1995: Blockbuster founder Wayne Huizenga resigns from Viacom board. JANUARY, 1996: Redstone fires CEO Frank Biondi. JULY, 1996: Cable system sold to pay down debt. SEPTEMBER-OCTOBER, 1996: Viacom and National Amusements buy $500 million worth of Viacom stock, with little effect. DECEMBER, 1996: Beavis and Butt-head Do America, one of the year's most profitable movies, is released. FEBRUARY, 1997: Radio stations sold to reduce debt. DATA: BLOOMBERG FINANCIAL MARKETS, BW Return to main story

Updated June 15, 1997 by bwwebmaster
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