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News brief: Viacom raising US$500 million

Viacom is raising US$500 million via a new bond offering.

The US-listed media giant said it would use the cash for general corporate purposes including repaying outstanding debt and to buy back its own stock as part of an ongoing share repurchase programme.

The debt offering is expected to be complete by March 14, the company said.

The company operates pay TV channels around the world including MTV, VH1, Nickelodeon and Comedy Central.

Tags: Viacom