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Viacom Inc. Forms Special Committee to Evaluate Potential Combination with CBS Corp.

ViacomViacom Inc.’s board of directors established a special committee of independent directors to evaluate a potential combination with CBS Corp. The committee retained independent legal counsel and will retain independent financial advisors in connection with this evaluation.

There can be no assurance that this process will result in a transaction or on what terms any transaction may occur. Neither Viacom nor the committee will comment further until the process is completed.

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