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
Add BT as a preferred source
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 Bloomberg. The stock closed at US$47.02 on Monday, meaning the company, controlled by 92-year-old Sumner Redstone and led by Mr Dauman, has lost US$3.4 billion investing in itself.
TRENDING NOW
Shanda co-founder sells Tanglin Hill bungalow for S$76 million
Jumbo Seafood to close flagship East Coast Seafood Centre outlet on Sep 30
Nearly half of Apac’s wealthy expect market crash or correction, plan to rotate to cash: study
Trek 2000 shares jump 41.5% after Osim founder Ron Sim drops claims, sells 7.3% stake to Azure Capital
