Viacom

(VIA) - Get Report

and

Infinity Broadcasting

(INF) - Get Report

said Wednesday they expect to complete their merger the week of Jan. 8, 2001.

Media heavyweight Viacom, whose properties include

CBS

,

MTV

,

Nickelodeon

and

Paramount Pictures

, currently owns all of Infinity's Class-B common stock, which amounts to 64% of Infinity's common stock and 90% of the combined voting interests of the common stock. Infinity is the largest radio broadcasting company in the country.

Shares of Viacom were recently down 4.2%, or $2.25, to $50.94, while Infinity was trading lower by 5%, or $1.56, to $29.94, in

New York Stock Exchange

trading.