Spelling to Sell TV Show Rights
Viacom Inc.’s Spelling Entertainment Group unit said it agreed to sell the rights to its library of television shows, such as “Melrose Place,†to Germany’s Kirch Group.
The programming agreement with Germany’s second-largest broadcaster is valued at more than $300 million over 10 years. The agreement is initially for five years and can be extended for another five years.
The agreement comes about nine months after New York-based Viacom agreed to sell to Kirch rights to all of its new Paramount films and TV shows.
Spelling, which has about 20,000 hours of programs in its library, expects the agreement to have a “very positive impact†on fourth-quarter earnings, company spokeswoman Nancy Bushkin said.
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