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Viacom CEO Dauman loses US$3.4b betting on his own company

Firm spent US$15.2b buying back shares over the past five years, at an average price of US$60.62 each

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Viacom, the owner of MTV and Nickelodeon, on Aug 6 reported lower sales and profit, highlighting the loss of viewers and advertisers to online players that have targeted the company's younger viewers.

Los Angeles

ADD a stock repurchase programme that now looks like a dud to the woes of Viacom Inc chief executive officer Philippe Dauman.

Viacom spent US$15.2 billion buying back shares over the past five years, at an average price of US$60.62 each, according to data compiled by

sentifi.com

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