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Viacom explores partnership with Paramount Pictures --
Tue, 01 Mar 2016 11:58
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Viacom Inc. has initiated a process to explore opportunities for a significant strategic minority equity investment in Paramount Pictures. The announcement was made by Philippe Dauman, Viacoms executive chairman, president and CEO, at the Jefferies Media and Communications Conference which took place from 23 to 24 February 2016 in New York City.
We have received indications of interest from potential partners seeking a strategic investment in Paramount Pictures and I have decided to pursue discussions with a select group of potential investors, Dauman said. In this time of change and enormous opportunity in our industry, a partnership will bring significant benefit to Paramount and Viacom, both strategically and financially, provide new opportunities for Paramounts employees and talent, and enhance long-term value for all Viacom shareholders.
In addition, the value of motion picture content continues to increase with the explosion of screens and the rapid expansion of the global theatrical market. This is the perfect time to explore new strategies to capitalise on Paramounts content expertise and global platform, maximise opportunities for its continued growth, and unlock the value of the business for the benefit of shareholders. Dauman added.
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