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Viacom CEO says fight with Redstones has slowed the company's Paramount Pictures sale

Viacom CEO says fight with Redstones has slowed the company's Paramount Pictures sale

Viacom Chief Executive Philippe Dauman said the planned sale of a 49% stake in Paramount Pictures has hit a speed bump because of the battle with the company’s controlling shareholder, Sumner Redstone, but that Viacom is pushing forward with its pursuit of a strategic investor for the Melrose Avenue movie studio.

“Naturally, recent events have slowed down the process,” Dauman told investors at the Gabelli & Co. annual movie and media conference on Thursday morning. Viacom had planned to unveil its selected partner by the end of June, but that goal “has slipped,” Dauman said.

The Paramount sale has become a divisive issue, particularly with the...

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