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.
Dauman said at the Deutsche Bank media, Internet and telecom conference, "I feel very good about the kind of players that we're talking to. It will help drive Viacom forward as well as bring out some of the value that's not being recognized."
In recent years Paramount has reduced the number of films it releases and that have surely affected its market share.
Dauman still hyped the studio's library along with its move into television production. He spoke about Paramount's global market expansion for films and television and the company's appeal thinking that it will help Viacom to get the finest price while selling the stake allowing it to "come out from the low point it's been in."
New Zealand News
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