Viacom isn’t planning any large acquisitions, CEO Philippe Dauman told...
Viacom isn’t planning any large acquisitions, CEO Philippe Dauman told analysts Thursday. There are not many attractive large acquisition targets, he said. “I continue to not see any large-scale acquisitions that make sense for Viacom,” he said. “We may have…
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some discrete, small-priced M&A opportunities that are almost operational investments, particularly in the international arena, where it makes sense.” But Viacom thinks it can grow best by investing in itself, he said. “The media business is transitioning, and we are extremely well-positioned to grow in that transition because we have a deeper understanding of the young audiences driving that transition than any other media group,” he said. Fiscal Q4 sales at Viacom fell 17 percent from a year earlier to $3.3 billion, a drop it attributed to lower sales at its movie studio. Sales at its network were $2.3 billion, the same as a year earlier. Profit increased 12 percent to $643 million on lower operating expenses.