Pursuits
Viacom Putting Crown Jewel on Sale Signals Big Media Dilemma
- High valuation for Paramount unit could trigger other deals
- DreamWorks Animation expresses interest in entire film studio
An entrance to Paramount Pictures in Los Angeles.
Photographer: Jonathan Alcorn/BloombergThis article is for subscribers only.
After buying the parent of Paramount Pictures in an epic $10 billion takeover battle in 1994, Sumner Redstone said he wanted to own that business “forever.”
Last week, his successor as chairman of Viacom Inc., Chief Executive Officer Philippe Dauman, said he’s looking to sell a slice of the storied studio, a crown jewel of the movie industry that produced “The Godfather” and “Raiders of the Lost Ark.”