Viacom Planning to Bid on MarketWatch

Authored by Mark Hefflinger on November 8, 2004 - 7:34am.

San Francisco -- Viacom, the parent of CBS and MTV, said it expects to make a bid to acquire the remaining shares of San Francisco-based MarketWatch, the provider of online business news, financial information and analytical tools, that it doesn't already own, the Associated Press reported. In a filing with the Securities and Exchange Commision, Viacom, which already owns a 22% stake in MarketWatch, said that its planned offer comes "at the invitation" of the company. The New York Times reported last week that MarketWatch could be sold for as much as $400 million, and has been actively seeking bids. Other possible suitors include The New York Times and Dow Jones & Co, publisher of The Wall Street Journal.
http://biz.yahoo.com/ap/041104/viacom_marketwatch_3.html