Posted On: 03/07/2016 3:16:15 PM
Post# of 96900
Here's what they're diluting for. (.01%chance)
Waving a big "for sale" sign, Viacom Chairman and Chief Executive Philippe Dauman touted a "once in a lifetime opportunity" presented by his plan to auction off a large piece of the storied Paramount Pictures movie studio.
"It is a crown jewel out there," Dauman said Monday at Deutsche Bank's Media, Internet and Telecom Conference in Palm Beach, Fla.
Viacom announced two weeks ago that it would sell a significant stake, or about 40%, of the Melrose Avenue film studio. Paramount is one of Hollywood's original studios, producing such culture-defining hits as "The Godfather," "Forrest Gump," "Mission: Impossible" and "Transformers."
Viacom would like to sell the stake in Paramount by the end of June. Dauman took a moment on Monday to make his sales pitch during the investor conference, saying the sale would produce a "premium valuation" for Paramount.
Observers have mentioned the possibility that a Chinese media company — or a tech giant such as Amazon — might be a preferred partner to invest in Viacom's Los Angeles film studio.
Waving a big "for sale" sign, Viacom Chairman and Chief Executive Philippe Dauman touted a "once in a lifetime opportunity" presented by his plan to auction off a large piece of the storied Paramount Pictures movie studio.
"It is a crown jewel out there," Dauman said Monday at Deutsche Bank's Media, Internet and Telecom Conference in Palm Beach, Fla.
Viacom announced two weeks ago that it would sell a significant stake, or about 40%, of the Melrose Avenue film studio. Paramount is one of Hollywood's original studios, producing such culture-defining hits as "The Godfather," "Forrest Gump," "Mission: Impossible" and "Transformers."
Viacom would like to sell the stake in Paramount by the end of June. Dauman took a moment on Monday to make his sales pitch during the investor conference, saying the sale would produce a "premium valuation" for Paramount.
Observers have mentioned the possibility that a Chinese media company — or a tech giant such as Amazon — might be a preferred partner to invest in Viacom's Los Angeles film studio.
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