"Viacom Outdoor announced - - that it has entered into an agreement to acquire 70 percent control of Magic Media the Beijing-based company that has the primary rights for advertising on the city's bus system. The deal, which is expected to be completed in October, comes with an option to acquire the remaining 30 percent in five years, and represents the Division's first purchase in thePeople's Republic of China. Viacom Outdoor will become a unit of the new CBS Corporation upon the split of Viacom Inc. into two independent Companies."
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