But he admits to holding an unspecified amount of Viacom stock.

So he became free to sell Viacom stock only in the last few months.

Bob Johnson will own a lot of Viacom stock.

After both incidents, Viacom stock rose over the long term.

When the split was announced on March 17, Viacom stock closed at $36.72 a share.

At its height in August 2000, Viacom stock traded at $71.13 a share.

His offer for the Viacom stock he does not already own has been valued at $2.08 billion.

The shares would be convertible into nonvoting Viacom stock at $70 a share.

Not only is she holding onto options that are valued at about $6.5 million, but she has bought Viacom stock on the open market.

"Life is perverse and I think Viacom stock will proceed to plummet," he said.