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Viacom receives interest for Paramount minority stake: WSJ

Friday, March 18, 2016 - 10:52

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Viacom Inc has received interest from three dozen companies for a minority stake in its Paramount Pictures studio, Chief Executive Philippe Dauman said in an interview with the Wall Street Journal.

[NEW YORK] Viacom Inc has received interest from three dozen companies for a minority stake in its Paramount Pictures studio, Chief Executive Philippe Dauman said in an interview with the Wall Street Journal.

In February, Viacom said it was considering selling a"significant" minority stake in its Paramount Pictures movie studio.

The company is looking for a strategic partner that could help its international and digital businesses, rather than financial buyers such as private-equity firms, the WSJ reported, citing Mr Dauman. In the face of weak advertising sales and poor ratings at its cable networks, investors have been urging Viacom to sell all or part of the movie studio, saying possible buyers include Chinese firms and tech companies looking to develop original content.

Mr Dauman confirmed to the Journal that the players "include some Asian interests".

sentifi.com

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A Viacom spokesman confirmed Mr Dauman's statements in the interview.

reuters

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