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Baidu Considered Bid for Paramount Studio Stake

  • Search-engine giant not currently pursuing a transaction
  • Any agreement could face opposition from Sumner Redstone
An entrance to Paramount Pictures in Los Angeles.
Photographer: Jonathan Alcorn/Bloomberg
Updated on

Baidu Inc. considered participating in a bid for a stake in Viacom Inc.’s Paramount Pictures, though it’s not currently in negotiations, people familiar with the matter said.

The search engine giant had contemplated working with DMG Entertainment & Media Co., a Chinese-American company that has co-produced films such as “Iron Man 3” and is seeking a larger role in Hollywood, said the people, who asked not to be identified discussing private information. The effort ended in late May when it became clear that Viacom’s controlling shareholders, the Redstone family, opposed the sale, the people said.