Viacom says it plans to bid for all of MarketWatch

NEW YORK (AFP) - Media-entertainment giant Viacom Inc. expects to make a bid for financial newsgroup MarketWatch Inc., according to a US Securities and Exchange Commission filing disclosed.
Viacom already owns 22 percent of MarketWatch, and the original MarketWatch.com site has been rebranded as CBS.MarketWatch.com as part of a link to the CBS broadcast unit of Viacom.
"At the invitation of the issuer, Viacom has determined to participate in a process which could lead to a sale of the issuer," Viacom said in the filing.
"Viacom currently anticipates submitting a proposal to acquire all of the issuer`s common shares."
Viacom did not say when the offer might be made. MarketWatch stock recently traded up 8.8 percent to at 15.85 dollars.
Last week, several news reports said MarketWatch was entertaining buyout offers from suitors, including Yahoo, The New York Times, Dow Jones and Pearson, publisher of the Financial Times.

11/04/2004 - 20:07 GMT - AFP