VIACOM <VIA> MERGER EXPECTED IN 60 TO 90 DAYS Sumner Redstone, president of National Amusements, Inc, predicted he can win regulatory approvals to wrap up the 3.4 billion dlr acquisition of Viacom International Inc in 60 to 90 days. Redstone, 63, catapulted himself into the big leagues of entertainment early today when a group of Viacom managers and their financial backers decided not to top National's bid. "We've had counsel working for some time in every region where Viacom has cable televison systems" Redstone told Reuters in a telephone interview. Redstone also said "Viacom is committed to working very closely with us to obtain approvals." Viacom has been seeking approvals for transfer of its broadcast licenses and cable systems since September when its management group first advanced a buyout plan. But Redstone turned the situation into a spirited bidding contest which was capped by the announcement this morning that Viacom's independent directors on behalf of Viacom entered into a defintive merger agreement with National. National is a family business which operates a chain of movie theaters. It is dwarfed by Viacom. Redstone said he was weary after talks dragged on through the night but also excited at the prospect of running a leading electronic media company. He noted that the number of motion picture admissions in the U.S. has shown no growth in 15 years. Of nine satellite television channels operated by Viacom, four are motion-picture oriented pay channels. Redstone said exclusive contracts with pay television networks are the emerging trend. "Up until recently you could see any motion picture on any pay channel," Redstone said. He noted Viacom has exclusive agreements with two studios and plans to sign a deal with a third company next month. Redstone said the management group's investment bankers will be paid what is due for termination of its merger agreement. Such fees could total about 30 mln dlrs. "That will be a company expense," Redstone said. He said BankAmerica <BAC> Corp has had numerous inquiries from lenders who want to participate in a 2.25 billion dlr financing for the deal. BankAmerica will provide 592 mln dlrs. After the merger, Viacom will be a subsidiary of National but 17 pct of the company will be in public hands.