Karmazin Says Viacom Can Go It Alone On Web

By | May 25, 2001 at 12:00 AM

Viacom chief operating officer Mel Karmazin continues his skepticism of online ventures, despite increasing popularity of streamed and downloaded entertainment outlets on the world wide web.

Karmazin told shareholders at the annual meeting in New York Wednesday (May 23) that the media giant can reap “tremendous rewards from the Internet without being owned by or owning” a big online company. The comments contradict persistent rumors that Viacom is considering a deal to buy portal king Yahoo!

Karmazin admitted that he’d like to acquire a Spanish-language broadcast outlet, but said that stock prices for any such acquisition target are “far higher than what Viacom would ever be willing to pay.” Several media companies have been interested in buying Univision but have found themselves priced out of making the acquisition.  

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