Posted: Mon., May 8, 2000

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Viacom merges Paramount Parks

Dolgen to o'see new addition to Viacom Entertainment Group

Mel Karmazin, chief operating officer of the newly hatched Viacom, said Friday the company’s theme park business, Paramount Parks, will be merged into the Viacom Entertainment Group and be overseen by the unit’s chairman, Jonathan Dolgen.

Announcement was the company’s first since it officially closed its merged with CBS Corp. last week. Other details of the combined company’s operations and management are expected in the coming weeks.

Viacom operates five theme parks in North America with annual attendance of about 13 million.

Viacom Entertainment includes the Paramount Motion Picture Group, the Paramount Television Group and the company’s theatrical exhibition business.

At least a portion of the TV operation of the merged company is expected to pass to CBS Television chief Leslie Moonves.

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