Viacom said it will report second-quarter loss.

The New York-based entertainment firm that paid $217 million plus warrants last month to purchase a 17% block of its own shares from financier Carl C. Icahn, said the repurchase will result in a one-time charge to net earnings of about $28 million after taxes. Viacom International said the charge will be reflected in the second quarter ended June 30, when it expects to report “a significant net loss.” The company also reported that it plans to make a $200-million Eurodollar offering of convertible subordinated debentures, which will be used to repay a portion of the bank debt incurred when Viacom paid Icahn.