Viacom to Buy Rest of SportsLine.com

So Viacom was sick of playing the hide and seek game: it has bought out the rest of Sportsline, in a $46 million deal–$1.75 a share cash–set to close by year-end.

Viacom, which currently holds a 38 percent interest in Sportsline, announced plans for the buyout early last month, but SPLN’s shareholders filed a lawsuit shortly afterward, challenging the bid’s original price of $1.50 a share. More details in press release

Miami Herald: CEO Michael Levy will remain with SportsLine through the closing, slated to occur by the end of the year. After that, he said he’ll stay on as long as Viacom wants.

Update: the companies file 8-K with SEC…the details on merger

Related:

Holders Challenge Viacom Offer To Buy Out SportsLine

Viacom Offers to Buy Sportsline.com

Dis*Content: What’s There To Buy in Sportsline?

SportsLine Hires Advisor to Explore “Alternatives”

SportsLine.com To Explore Strategic Alternatives

Sportsline Faces Uncertain Future Under Viacom Ownership

Sportsline’s Q1 Results

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