Viacom backs King memorial

Media conglomerate Viacom Inc., which owns BET and MTV, announced a donation Tuesday valued at $1.5 million to help build a memorial to Martin Luther King Jr. on the National Mall in Washington.

Viacom pledged $1 million in cash plus promotions for the memorial that will include public service announcements across the company’s networks and its billboards in New York’s Times Square, Chief Executive Philippe Dauman said.

The memorial will be built near the Tidal Basin between the Lincoln and Jefferson memorials. It will include a sculpture of King and 14 quotations from the slain civil rights leader and Nobelist.

The foundation has raised $82 million of the $100 million needed to complete and maintain the memorial, organizers said. They hope the Viacom gift and promotions for the Dream Concert will build momentum for the final leg of fundraising.