Pursuits
Gabelli Says Viacom Should Buy AMC, Sell Studio Stake to Alibaba
- Deals would give company capital, access to hit programming
- CBS and Viacom shouldn't be recombined, Gabelli says
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Mario Gabelli, the largest outside investor in Viacom Inc. voting stock, said the TV and film company should merge with AMC Networks Inc. and sell a piece of its Paramount Pictures division to Chinese Internet billionaire Jack Ma’s Alibaba Group Holding Ltd.
A partnership with Ma would give Viacom access to capital and a global view of the entertainment business as the Chinese film market is growing rapidly, Gabelli said Wednesday in a telephone interview. AMC Networks, the programmer behind popular TV fare such as “The Walking Dead,” has a good track record of making hits, he said.