Viacom Close to a Deal of Selling a Stake of Paramount

Viacom is about to close a deal of selling 49 percent of Paramount. That could add $10 per share to the stock price of Viacom.

Even though the objective is to make a move by the end of June but CEO, Philippe Dauman told investors at a gathering "is going to slip somewhat." He also added, the plan with "an interesting strategic partner" would provide value for "all [Viacom] shareholders."

Sumner Redstone, the controlling shareholder has made an effort to block the sale of a stake in Paramount.

Viacom chairman and CEO Philippe Dauman Calls Paramount Pictures a “Crown Jewel” Promotes it as a real Growth Business

On Monday, Philippe Dauman the Viacom chairman and CEO, called the Paramount Pictures a "crown jewel." He said that he hoped to reach an agreement to sell a minority stake in Paramount before the next financial quarter ended. The studio is behind big hits like "Star Trek" and "Transformers".

According to the analysts, Alibaba could be one of the interested companies which would like a share in Paramount. However, Dauman is tight lipped about who all could approach the studio.

Viacom Says Redstone’s Pay Reduced in Fiscal 2015; Pay Rise for CEO, Philippe Dauman

Viacom Inc. recently faced criticism and shareholders wrath due to the huge compensations made to its ninety two year old Executive Chairman, Sumner Redstone.

On Friday, the company said that it has trimmed the total pay of Redstone by eighty five percent to $2 million in 2015 for his "reduced responsibilities". The company also said in a securities filing, that it increased the pay of Philippe Dauman, Viacom's Chief Executive.