RES 87127 - Laserfiche WebLink

Mr. Larry Miller March 13, 1987 Page 2 14 states and 1986 revenues in excess of $150 million. See Attachment C. Sumner M. Redstone is the President and Chairman of the Board of National Amusements and votes all of the company's voting stock. As demonstrated by the attached biographical material (Attachment D), Mr. Redstone has had a distinguished career which, in addition to his success in business, includes valued service to the nation in World War II, as well as very extensive activities on behalf of civic and charitable organizations. Further information concerning Mr. Redstone's and National Amusements' character, legal and technical qualifications is set forth in Attachment E. The purpose of this letter is to advise you of the details of the transaction and to give you an opportunity to approve the transfer of control of Viacom if you deem such approval to be necessary under the terms of the franchise. I am enclosing a draft resolution which may be of assistance to you. Because the parties anticipate completing this transaction in early spring, it would be most helpful if any required action could be taken by April 30, 1987. Your prompt attention to this matter will be greatly appreciated and will assist us in minimizing the transition period and promoting the stability and continuity of Viacom's local cable operations. The National Amusements transaction will ensure the continued strength of Viacom's financial position, will provide for stability and continuity of ownership of the company, and will guarantee Viacom's future as a major and secure force in the communications field. We are enthusiastic about Viacom's future in conjunction with National Amusements, and I look forward to working with you to complete this transact[on expeditiously. Very truly yours, Myrt Jones General Manager