Viacom Draws Interest For Minority Stake In Paramount Pictures Studio: WSJ

(RTTNews) - Viacom Inc.(VIAB, VIA) has received interest from three dozen companies, even as Paramount is experiencing a particularly weak quarter at the box office, Chief Executive Philippe Dauman said in an interview with the Wall Street Journal.

The company is looking for a strategic partner that could help it in its international and digital businesses, as opposed to purely financial buyers such as private-equity firms, the report stated.

In February, Viacom was in talks to sell a minority stake in its film division Paramount Pictures. Investors have been pushing Viacom to consider selling at least a stake in Paramount, as Viacom continues to struggle with poor ad sales and weak movie business.

Dauman confirmed that the contenders "include some Asian interests," and reiterated his commitment to completing the transaction by the end of June, WSJ noted.