MTV parent Viacom has completed the purchase of a 75.83% stake in German music television group Viva Media. The American media giant confirmed yesterday (Aug. 26) that it had closed the deal with the

MTV parent Viacom has completed the purchase of a 75.83% stake in German music television group Viva Media. The American media giant confirmed yesterday (Aug. 26) that it had closed the deal with the Cologne-based broadcaster's 14 shareholders.

Viva's two largest shareholders were Time Warner (30.6%) and Universal Music (15.3%).

As previously reported, the deal, which is valued at €234 million ($283.3 million), was cleared by German anti-trust authorities.

In accordance with German law, Viacom has issued a public tender offer for the remaining Viva shares, offering €12.65 ($15.31) per share. The offer expires Sept. 21.

Separately, Viacom has completed its acquisition of Time Warner's 49% stake in alternative-music cable channel Viva Plus, which is a joint venture with Viva Fernsehen.

An MTV spokesman says both parties have assembled an integration committee to develop strategies for the enlarged business.

Viva has been MTV's biggest competitor in Germany. The new entity will regroup all of Germany's most popular music TV channels -- MTV, MTV2 Pop, Viva and Viva Plus.