How Viacom Decision to Seek Paramount Investor May be Turning Point
It appears Viacom is finally playing ball with its investors.
Due to less than expected earnings, many stakeholders have suggested the company sell some assets or take itself private.
At an investor conference Tuesday, CEO Phillippe Dauman said Viacom plans to sell a small stake in Paramount Pictures and is actively looking for a partner.
Wall Street reacted favorably and the stock soared.