Viacom Special Committee Retains Financial Advisors

The Special Committee of the Board of Directors of Viacom (NASDAQ: VIAB, VIA) today announced that it has retained financial advisors in connection with the Special Committee’s evaluation of the request by National Amusements that Viacom explore a potential combination with CBS (NYSE: CBS). The financial advisors are Morgan Stanley, Allen & Company and LionTree LLC.

The Special Committee, which is comprised of six independent Viacom board members, previously engaged Debevoise & Plimpton LLP as its independent legal advisor.

The Special Committee does not intend to comment further unless and until it determines that additional disclosure is appropriate.

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