Viacom chairman and CEO Philippe Dauman has decided to consider a sale of a minority stake in Paramount Pictures to a strategic investor in a bid to help prop up the ailing media giant after a string of wrong-way moves that rippled the company’s stock price.Dauman told analysts during an investor conference Tuesday that Viacom has “been approached by several potential strategic investors” about taking a minority stake in Paramount, long considered one of the conglomerate’s crown jewels. Analysts have pegged an outright sale could value the studio at up to about $5.5 billion — a big drop from the $9.8 billion Viacom paid for it in 1994.
Source: Viacom CEO Dauman Pursuing Paramount Stake Sale – Hollywood Reporter