Pursuits
John Malone Sees Viacom Opportunity, Says Stock Undervalued
- Viacom ‘very important part of our industry,’ Malone says
- Moonves would do a ‘terrific job’ as CEO of recombined company
Malone on Brexit, Starz-Lions Gate Deal, and Viacom
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Viacom Inc. is undervalued because of the turmoil over the battle for control of the company, said billionaire John Malone, who’s been piling up media acquisitions.
Shares of the owner of MTV and Comedy Central have gained 4.8 percent this year through midday trading, trailing the 6.8 percent gain of the Standard & Poor’s 500 Media Industry Group Index. Investors have been stuck in the middle as Vice Chairman Shari Redstone tussles with Chief Executive Officer Philippe Dauman over the company’s future.