Viacom Inc. has unveiled today that it has started off a process to explore opportunities for a significant strategic minority equity investment in Paramount Pictures.
The announcement was made by Philippe Dauman, Viacom’s Executive Chairman, President and CEO, at the
Jefferies Media & Communications Conference in New York City
“We have received indications of interest from potential partners seeking a strategic investment in Paramount Pictures and I have decided to pursue discussions with a select group of potential investors,” Mr. Dauman said.
Viacom is the owner of a wide portfolio of first row global media brands that create compelling television programs, motion pictures, short-form content, apps, games, consumer products, social media experiences, and other entertainment content for audiences in 180 countries.
Viacom’s media networks incudes: Nickelodeon, Comedy Central, MTV, VH1, Spike, BET, CMT, TV Land, Nick at Nite, Nick Jr., Channel 5 (UK), Logo, Nicktoons, TeenNick and Paramount Channel. These brands all together reach over 3.5Bn cumulative television subscribers worldwide.
Paramount Pictures Corporation is a global producer and distributor of filmed entertainment
Searching benefits for Paramount and viacom through partnership
Dauman explained as well: “In this time of change and enormous opportunity in our industry, a partnership will bring significant benefit to Paramount and Viacom, both strategically and financially, provide new opportunities for Paramount’s employees and talent, and enhance long-term value for all Viacom shareholders.”
“Paramount Pictures has been a leading motion picture studio for more than a century and is among a select few that has significant reach and scale, a deep library, a robust pipeline with proven global franchises, and a high potential television production operation,” Dauman added.
Searching new ways to capitalize Paramount’s expertise in a multi-screened world
“In addition, the value of motion picture content continues to increase with the explosion of screens and the rapid expansion of the global theatrical market. This is the perfect time to explore new strategies to capitalize on Paramount’s content expertise and global platform, maximize opportunities for its continued growth, and unlock the value of the business for the benefit of shareholders.”
Viacom is one of the big players grabbing the opportunities that new media and ad formats provide. Just to quote one example, last january Viacom’s integrated marketing and creative content division, Viacom Velocity, partneed with Canvs to measure consumer’s emotional reactions to marketing campaigns. Another example of Viacom’s open minded approach to new media and ad formats is the content deal signed with Snapchat that was expanded in early February to include a multy year deal allowing Viacom to sell advertising on behalf of Snapchat.
In January last year Viacom extended the employment agreement of President and Chief Executive Officer Philippe Dauman through December 31st, 2018. This extension adds two years to Dauman’s previous contract, which ran through December 31st, 2016.
Imagen sobre el titular.- © Viacom.
