DreamWorks interested in Viacom's Paramount Pictures

Viacom was considering selling a "significant" minority stake in Paramount Pictures, its CEO had said last week

Jeffrey Katzenberg, CEO of Dreamworks Animation, speaks at the 2014 Milken Institute Global Conference in Beverly Hills, California. Photo: Reuters
Jeffrey Katzenberg, CEO of Dreamworks Animation, speaks at the 2014 Milken Institute Global Conference in Beverly Hills, California. Photo: Reuters
Reuters Bengaluru
Last Updated : Mar 02 2016 | 9:02 AM IST
Hollywood studio DreamWorks Animation SKG Inc would be interested in a merger with Viacom Inc's Paramount Pictures, the company's chief executive said on Tuesday.

"I could imagine that with a good financial partner coming with us, putting together the asset of Paramount and DreamWorks could be extremely valuable," DreamWorks CEO 

Jeffrey Katzenberg said at the Morgan Stanley investor conference in San Francisco.

Read more from our special coverage on "VIACOM"


DreamWorks would not be interested in buying a stake in Paramount, he added.

Viacom is considering selling a "significant" minority stake in Paramount Pictures, Chief Executive Philippe Dauman said last week.

The entire studio is worth $4 billion, according to an estimate by Sanford Bernstein analyst Todd Juenger.

Katzenberg, who worked with Paramount for 11 years, said the next 12 months for DreamWorks would be "choppy".

DreamWorks, which is in the middle of a turnaround, has been reducing its dependence on the volatile feature films business to concentrate on increasing revenue from licensing its original content to media houses and video streaming companies.

DreamWorks' shares closed up 2.3% at $26.26, while Viacom ended 1.9% higher at $37.56.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 02 2016 | 7:26 AM IST

Next Story