Viacom completes UPN deal

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Viacom, New York, on April 3 said it has completed the purchase of the half of UPN it didn't own. Viacom earlier announced its intention to buy UPN for $5 million. The ownership of UPN makes it incumbent on Viacom to win a change in federal law to go ahead with its purchase of CBS. Under current law, no one company can own two of the major broadcast TV networks. The Federal Communications Commission has been reviewing current broadcast ownership rules.

Copyright April 2000, Crain Communications Inc.

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