Viacom receives interest for Paramount minority stake: WSJ

Thu Mar 17, 2016 10:45pm EDT
 
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(Reuters) - Viacom Inc VIAB.O has received interest from three dozen companies for a minority stake in its Paramount Pictures studio, Chief Executive Philippe Dauman said in an interview with the Wall Street Journal.

In February, Viacom said it was considering selling a "significant" minority stake in its Paramount Pictures movie studio.

The company is looking for a strategic partner that could help its international and digital businesses, rather than financial buyers such as private-equity firms, the WSJ reported, citing Dauman. (on.wsj.com/1prnf6J)

In the face of weak advertising sales and poor ratings at its cable networks, investors have been urging Viacom to sell all or part of the movie studio, saying possible buyers include Chinese firms and tech companies looking to develop original content.

Dauman confirmed to the Journal that the players "include some Asian interests".

A Viacom spokesman confirmed Dauman's statements in the interview.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Sandra Maler and Savio D'Souza)

 
A woman exits the Viacom Inc. headquarters in New York April 30, 2013. REUTERS/Lucas Jackson