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                          AGREEMENT AND PLAN OF MERGER



                                      Among



                                  VIACOM INC.,



                                IBC MERGER CORP.



                                       and



                        INFINITY BROADCASTING CORPORATION





                          Dated as of October 30, 2000









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                                Table of Contents

                                                                            Page



                                    ARTICLE I



                                   The Merger



SECTION 1.01. The Merger.......................................................2

SECTION 1.02. Effective Time; Closing..........................................2

SECTION 1.03. Effect of the Merger.............................................2

SECTION 1.04. Certificate of Incorporation; By-laws............................2

SECTION 1.05. Directors and Officers...........................................3



                                   ARTICLE II



               CONVERSION OF SECURITIES; EXCHANGE OF CERTIFICATES



SECTION 2.01. Conversion of Securities.........................................3

SECTION 2.02. Exchange of Certificates.........................................4

SECTION 2.03. Stock Transfer Books.............................................6

SECTION 2.04. Company Stock Options............................................6



                                   ARTICLE III



                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY



SECTION 3.01. Organization and Qualification...................................8

SECTION 3.02. Restated Certificate of Incorporation and Restated By-laws.......8

SECTION 3.03. Capitalization...................................................8

SECTION 3.04. Authority Relative to This Agreement.............................9

SECTION 3.05. No Conflict; Required Filings and Consents......................10

SECTION 3.06. SEC Filings; Financial Statements...............................11

SECTION 3.07. Absence of Litigation...........................................11

SECTION 3.08. Compliance......................................................12

SECTION 3.09. Intellectual Property Rights....................................12

SECTION 3.10. Tax Matters.....................................................12

SECTION 3.11. Brokers.........................................................12

SECTION 3.12. Opinions of Financial Advisors..................................12



                                   ARTICLE IV



             REPRESENTATIONS AND WARRANTIES OF PARENT and Merger Sub



SECTION 4.01. Organization and Qualification..................................13





                                       i

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SECTION 4.02. Certificate of Incorporation and By-laws........................13

SECTION 4.03. Capitalization; Ownership of Company Class B Shares.............14

SECTION 4.04. Authority Relative to This Agreement............................14

SECTION 4.05. No Conflict; Required Filings and Consents......................15

SECTION 4.06. SEC Filings; Financial Statements...............................15

SECTION 4.07. Absence of Litigation...........................................16

SECTION 4.08. Compliance......................................................16

SECTION 4.09. Intellectual Property Rights....................................16

SECTION 4.10. Tax Matters.....................................................17

SECTION 4.11. Brokers.........................................................17

SECTION 4.12. Operations of Merger Sub........................................17



                                    ARTICLE V



                    CONDUCT OF BUSINESSES PENDING THE MERGER



SECTION 5.01. Conduct of Business by the Company Pending the Merger...........17

SECTION 5.02. Conduct of Business by Parent Pending the Merger................18

SECTION 5.03. Notification of Certain Matters.................................18



                                   ARTICLE VI



                              ADDITIONAL AGREEMENTS



SECTION 6.01. Company Stockholder Approval....................................18

SECTION 6.02. Registration Statement; Disclosure Document.....................19

SECTION 6.03. Access to Information; Confidentiality..........................21

SECTION 6.04. Directors' and Officers' Indemnification and Insurance..........21

SECTION 6.05. Affiliates......................................................23

SECTION 6.06. Tax Treatment...................................................23

SECTION 6.07. Further Action; Consents; Filings...............................23

SECTION 6.08. Public Announcements............................................24

SECTION 6.09. NYSE Listing....................................................24

SECTION 6.10. Permitted Transfers.............................................24

SECTION 6.11. Obligations of Merger Sub.......................................24

SECTION 6.12. Reasonable Best Efforts and Further Assurances..................24



                                   ARTICLE VII



                            CONDITIONS TO THE MERGER



SECTION 7.01. Conditions to the Obligations of Each Party.....................25

SECTION 7.02. Conditions to the Obligations of Parent and Merger Sub..........25

SECTION 7.03. Conditions to the Obligations of the Company....................26





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                                  ARTICLE VIII



                        TERMINATION, AMENDMENT AND WAIVER



SECTION 8.01. Termination.....................................................27

SECTION 8.02. Effect of Termination...........................................28

SECTION 8.03. Amendment.......................................................28

SECTION 8.04. Waiver..........................................................28

SECTION 8.05. Expenses........................................................29



                                   ARTICLE IX



                               GENERAL PROVISIONS



SECTION 9.01. Non-Survival of Representations, Warranties and Agreements......29

SECTION 9.02. Notices.........................................................29

SECTION 9.03. Certain Definitions.............................................30

SECTION 9.04. Severability....................................................31

SECTION 9.05. Entire Agreement; Assignment....................................31

SECTION 9.06. Parties in Interest.............................................31

SECTION 9.07. Governing Law...................................................31

SECTION 9.08. Headings........................................................31

SECTION 9.09. Counterparts....................................................32

SECTION 9.10. Consent to Jurisdiction.........................................32

SECTION 9.11. WAIVER OF JURY TRIAL............................................32



Exhibit 6.05      Form of Affiliate Letter for Affiliates of the Company











                                      iii

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                            Glossary of Defined Terms



Defined Term                                                    Location of

                                                                Definition



affiliate.......................................................ss. 9.03(a)

Agreement.......................................................Preamble

Blue Sky Laws...................................................ss. 3.05(b)

business day....................................................ss. 9.03(b)

CBSBI...........................................................ss. 4.03(b)

Certificate of Merger...........................................ss. 1.02

Certificates....................................................ss. 2.02(b)

Closing.........................................................ss. 1.02

Code............................................................Recitals

Company.........................................................Preamble

Company Class A Shares..........................................Recitals

Company Class B Shares..........................................Recitals

Company Disclosure Schedule.....................................ss. 3.03

Company Material Adverse Effect.................................ss. 3.01

Company Preferred Stock.........................................ss. 3.03

Company SEC Reports.............................................ss. 3.06(a)

Company Stock Options...........................................ss. 2.04(a)

Consent Solicitation Statement..................................ss. 6.02(a)

control.........................................................ss. 9.03(c)

Delaware Law....................................................Recitals

Disclosure Document.............................................ss. 6.02(a)

Effective Time..................................................ss. 1.02

Exchange Act....................................................ss. 2.04(c)

Exchange Agent..................................................ss. 2.02(a)

Exchange Fund...................................................ss. 2.02(a)

Exchange Ratio..................................................ss. 2.01(a)

Expenses........................................................ss. 8.05

Governmental Entity.............................................ss. 3.05(b)

Indemnified Parties.............................................ss. 6.04(b)

Information Statement...........................................ss. 6.02(a)

Law.............................................................ss. 3.05(a)

Merger..........................................................Recitals

Merger Sub .....................................................Preamble

NYSE............................................................ss. 3.05(b)

Order...........................................................ss. 7.01(c)

Parent..........................................................Preamble

Parent Class A Common Shares....................................ss. 4.03

Parent Class B Common Shares....................................ss. 2.01(a)

Parent Disclosure Schedule......................................ss. 4.03

Parent Material Adverse Effect..................................ss. 4.01

Parent Preferred Shares.........................................ss. 4.03

Parent SEC Reports..............................................ss. 4.06(a)





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person..........................................................ss. 9.03(d)

Proxy Statement.................................................ss. 6.02(a)

Registration Statement..........................................ss. 6.02(a)

Representatives.................................................ss. 6.03(a)

SEC.............................................................ss. 2.04(b)

Securities Act..................................................ss. 3.05(b)

Shares..........................................................Recitals

Special Committee...............................................Recitals

subsidiary......................................................ss. 9.03(e)

Substituted Options.............................................ss. 2.04(a)

Surviving Corporation...........................................ss. 1.01

Terminating Company Breach......................................ss. 8.01(e)

Terminating Parent Breach.......................................ss. 8.01(f)













                                       v

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                  AGREEMENT AND PLAN OF MERGER, dated as of October 30, 2000

(this "Agreement"), among VIACOM INC., a Delaware corporation ("Parent"), IBC

MERGER CORP., a Delaware corporation and a direct wholly owned subsidiary of

Parent ("Merger Sub"), and INFINITY BROADCASTING CORPORATION, a Delaware

corporation (the "Company").





                               W I T N E S S E T H



                  WHEREAS, Parent beneficially owns an aggregate of 700,000,000

shares of Class B common stock, par value $.01 per share, of the Company

("Company Class B Shares") and no shares of Class A common stock, par value $.01

per share, of the Company ("Company Class A Shares" and, together with the

Company Class B Shares, the "Shares") constituting approximately 64.3% of the

total outstanding Shares, and has proposed to the Board of Directors of the

Company that Parent acquire the remaining outstanding Shares;



                  WHEREAS, a special committee of the Board of Directors of the

Company consisting solely of independent directors (the "Special Committee") (i)

has determined that it is fair to, and in the best interests of, the Company and

its stockholders (excluding Parent and its affiliates) to consummate the merger

of the Company with and into Merger Sub, with Merger Sub being the surviving

corporation (the "Merger"), upon the terms and subject to the conditions of this

Agreement and in accordance with the General Corporation Law of the State of

Delaware ("Delaware Law"), (ii) has determined that this Agreement and the

Merger should be approved and declared advisable and (iii) has resolved to

recommend that the Board of Directors of the Company approve and declare the

advisability of this Agreement and the Merger;



                  WHEREAS, the Board of Directors of the Company, in reliance

upon the advice of the Special Committee, (i) has determined that it is fair to,

and in the best interests of, the Company and its stockholders (excluding Parent

and its affiliates) to consummate the Merger, upon the terms and subject to the

conditions of this Agreement and in accordance with Delaware Law, (ii) has

approved and declared the advisability of this Agreement and the Merger and

(iii) has resolved to recommend that the stockholders of the Company approve the

Merger and adopt this Agreement;



                  WHEREAS, the Board of Directors of Parent (i) has determined

that the Merger is fair to, and in the best interests of, Parent and its

stockholders and (ii) has approved and declared the advisability of this

Agreement and the Merger; and



                  WHEREAS, for United States federal income tax purposes, it is

intended that the Merger shall qualify as a reorganization under the provisions

of Section 368(a) of the United States Internal Revenue Code of 1986, as amended

(the "Code").



                  NOW, THEREFORE, in consideration of the foregoing and the

mutual covenants and agreements herein contained, and intending to be legally

bound hereby, Parent, the Company and Merger Sub hereby agree as follows:

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                                   ARTICLE I



                                   The Merger





                  SECTION 1.01.  The Merger. Upon the terms and subject to the

conditions set forth in Article VII, and in accordance with Delaware Law, at the

Effective Time (as defined below), the Company shall be merged with and into

Merger Sub. As a result of the Merger, the separate corporate existence of the

Company shall cease and Merger Sub shall continue as the surviving corporation

of the Merger (the "Surviving Corporation").



                  SECTION 1.02.  Effective Time; Closing. As promptly as

practicable and in no event later than the third business day following the

satisfaction or, if permissible, waiver of the conditions set forth in Article

VII (other than conditions providing for the delivery of opinions, documents or

certificates at the Closing (as defined below)) (or such other date as may be

agreed in writing by each of the parties hereto), the parties hereto shall cause

the Merger to be consummated by filing a certificate of merger (the "Certificate

of Merger") with the Secretary of State of the State of Delaware, in such form

as is required by, and executed in accordance with, the relevant provisions of

Delaware Law. The term "Effective Time" means the date and time of the filing

with, and the acceptance for record by, the Secretary of State of the State of

Delaware of the Certificate of Merger (or such later time as may be agreed upon

in writing by each of the parties hereto and specified in the Certificate of

Merger). Immediately prior to the filing of the Certificate of Merger, a closing

(the "Closing") will be held at the offices of Parent, 1515 Broadway, New York,

New York 10036 (or such other place as the parties hereto may agree).



                  SECTION 1.03.  Effect of the Merger. At the Effective Time,

the effect of the Merger shall be as provided in the applicable provisions of

Delaware Law (including, without limitation, Sections 259, 260 and 261 of the

General Corporation Law of the State of Delaware). Without limiting the

generality of the foregoing, and subject thereto, at the Effective Time, all the

property, rights, privileges, powers and franchises of the Company shall vest in

the Surviving Corporation, and all debts, liabilities, obligations,

restrictions, disabilities and duties of the Company shall become the debts,

liabilities, obligations, restrictions, disabilities and duties of the Surviving

Corporation.



                  SECTION 1.04.  Certificate of Incorporation; By-laws. (a) At

the Effective Time, the Certificate of Incorporation of Merger Sub, as in effect

immediately prior to the Effective Time, shall be the Certificate of

Incorporation of the Surviving Corporation until thereafter amended as provided

by law and such Certificate of Incorporation; provided, however, that at the

Effective Time, Article I of the Certificate of Incorporation of the Surviving

Corporation shall be amended to read as follows: "The name of the Corporation is

Infinity Broadcasting Corporation."



                  (b) At the Effective Time, the By-laws of Merger Sub, as in

effect immediately prior to the Effective Time, shall be the By-laws of the

Surviving Corporation until thereafter amended as provided by law, the

Certificate of Incorporation of the Surviving Corporation and such By-laws.





                                       2

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                  SECTION 1.05.  Directors and Officers. The directors of the

Company immediately prior to the Effective Time shall become the directors of

the Surviving Corporation effective as of the Effective Time. The Surviving

Corporation shall, and shall cause the directors of the Surviving Corporation

to, take such action, as of immediately following the Effective Time, as may be

necessary to cause the board of directors of the Surviving Corporation

thereafter to be comprised solely of persons designated by Parent (including,

without limitation, by nominating any such Parent designees to the board of

directors of the Surviving Corporation). The directors of the Surviving

Corporation, after giving effect to the actions contemplated by the preceding

sentence, shall each hold office in accordance with the Certificate of

Incorporation and By-laws of the Surviving Corporation until the earlier of

their resignation or removal or until their successors are duly elected or

appointed and qualified. The officers of the Company immediately prior to the

Effective Time shall be the initial officers of the Surviving Corporation, and

shall each hold office in accordance with the Certificate of Incorporation and

By-laws of the Surviving Corporation until the earlier of their resignation or

removal or until their respective successors are duly elected or appointed and

qualified.





                                   ARTICLE II



               CONVERSION OF SECURITIES; EXCHANGE OF CERTIFICATES



                  SECTION 2.01.  Conversion of Securities. At the Effective

Time, by virtue of the Merger and without any action on the part of Parent,

Merger Sub, the Company or the holders of any of the following securities:



                  (a) each Share issued and outstanding immediately prior to the

         Effective Time (other than any Shares to be canceled pursuant to

         Section 2.01(b)) shall be converted, subject to Section 2.02(e), into

         the right to receive 0.592 (the "Exchange Ratio") of a share of Class B

         common stock, par value $.01 per share, of Parent ("Parent Class B

         Common Shares"); provided, however, that if between the date of this

         Agreement and the Effective Time the outstanding Parent Class B Common

         Shares shall have been changed into a different number of shares or a

         different class of shares or securities as a result of a

         reorganization, recapitalization, reclassification, stock dividend,

         stock split, reverse stock split, combination or exchange of shares or

         other similar change in capitalization, then an appropriate and

         proportionate adjustment shall be made to the Exchange Ratio; at the

         Effective Time, each Share issued and outstanding immediately prior to

         the Effective Time shall no longer be outstanding and shall

         automatically be cancelled and retired and cease to exist, and, other

         than certificates evidencing Shares to be cancelled pursuant to Section

         2.01(b), each certificate previously evidencing such Shares shall

         evidence only the right to receive the number of Parent Class B Common

         Shares set forth above; and



                  (b) each Share held in the treasury of the Company immediately

         prior to the Effective Time shall be canceled and extinguished without

         any conversion thereof and no payment or distribution shall be made

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