Report: Viacom to land U.K.'s Channel 5

|About: Viacom Inc. (VIA)|By:, SA News Editor

Viacom (VIA, VIAB) will purchase Channel 5 in the U.K. from Northern & Shell for a deal price as high as £450M ($759M), according to Bloomberg.

An announcement is expected later today.

Discovery Communications and British Sky Broadcasting reportedly dropped a joint bid earlier in the month.