MEDIA

Vote a Setback for Viacom Cable Sale: A Senate panel voted to abolish tax breaks for businesses selling broadcast properties to minorities, a move likely to scuttle Viacom Inc.’s planned $2.3-billion sale of its cable systems. The House passed similar legislation in February. The bill still faces a vote on the Senate floor, where some Democrats have vowed to fight provisions aiming to eliminate deals in the works before now. New York-based Viacom said it is now considering a different transaction. It has said repeatedly that it would not proceed with the planned sale to a firm headed by Frank Washington, an African American media executive based in California, should the tax breaks be repealed. Viacom may be forced to negotiate with cable giant Tele-Communications Inc., one of Washington’s major backers, since TCI is one of a few possible buyers. Viacom might also spin off its cable systems to shareholders, analysts said.