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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
Add BT as a preferred sourcePublished Tue, Aug 11, 2015 · 09:50 PM
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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.
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