BET Holdings Inc. chairman and CEO Robert L. Johnson filed documents with the
Securities and Exchange Commission Friday registering 3.3 million shares of
Viacom Inc. common stock he holds, valued at about $180 million, for possible
future sale.
Johnson acquired 26.9 million shares of Viacom stock when he sold his Black
Entertainment Networks Inc. to Viacom in November for $3 billion in stock and
assumed debt. The proposed sale also includes about 90,000 Viacom shares held by
the Johnson Children's Insurance Trust.
After the sale, Johnson would still control about 23.8 million Viacom shares,
or about 1.4 percent of its outstanding stock.
