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Blockbuster to split from Viacom parent

After a split off financial exchange deal, Blockbuster and Viacom will no longer be together. The terms of the deal will give Blockbuster a $5 dividend, with a total payout to all shareholders of over $900 million - of which Viacom will pick up $738 million as an income tax free payment.

As for Viacom, chairman and CEO Sumner Redstone implied that the split represented a refocusing of the corporation's efforts on the media creation area, rather than the retail or rental areas further down the value chain.

"Following the split-off, Viacom will devote all its energies and resources into expanding our core areas," he said in a statement, "particularly the content creation engines that we believe will drive our future performance."

News source: gamesindustry.biz

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