Television

Viacom exploring division of business: Redstone

 MUMBAI: Division for shareholders benefit and further unlocking of value! That is what media conglomerate Viacom chairman and CEO Sumner M. Redstone is looking to achieve this fiscal.

He has announced that he is exploring with the board of directors the possible division of its businesses into separate publicly-traded companies.

 

Redstone said that Viacom’s Board has authorised the company to explore the separation as a means to achieve important corporate objectives and to better deliver value to shareholders in a tax-efficient manner.

Viacom expects to announce further details regarding the possible separation in the second quarter of the year.

 

 

Redstone said, “Viacom has an outstanding stable of assets with leadership positions and excellent future prospects and I have for several months been considering various alternatives to maximize our business opportunities in a way that would best serve our shareholders. It is clear that, despite our success in operating our businesses for maximum return, Viacom’s businesses have inherently different growth characteristics and investment attributes that appeal to different types of investors.

"Furthermore, it has also become clear that this important distinction is likely to continue to limit Viacom’s ability to receive full value for its assets and its prospects in the investment community. We believe that a separation of our businesses into distinct and strong operating entities would allow us to optimise our capital structure and create unique investments that are more appealing to investors with different objectives.”

Redstone avered that the new publicly-traded entities could each pursue strategic paths that would maximise their long-term potential. The separation could highlight high-growth businesses, such as MTV Networks. The first entity would be operated by Viacom co-COO Tom Freston. Redstone maintains that this could give Viacom added flexibility to pursue internal growth and to enhance these operations through the creation of an attractive high-multiple currency that could be used for accretive acquisitions.

Redstone states that separation would allow the company to deliver greater value to shareholders. The second entity would be operated by Viacom co-COO Les Moonves. This would combine CBS broadcast television businesses with the outdoor business and free cash flow operations, such as radio. This group of assets would also have the potential to participate in a programme of stock buybacks and increased dividends Redstone noted.

 

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/Nivedita-Oak.jpg?itok=75PAewjb
Times Television Network elevates Nivedita Oak to DGM

Times Television Network (TTN) has elevated Nivedita Oak to deputy general manager - influence. Earlier, Oak was the regional head for Zoom, FCT and branded content. She has been working with the Times Network for the last 11 years.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/pathan.jpg?itok=tah626ME
History TV18 to release third film in ‘Special Operations India' series

History TV18, a pan-Indian television channel, is to create a documentary on counter-terrorist operation at Pathankot air base named Special Operations India: Pathankot. This one-hour documentary will be aired on June 25 at 9 pm.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/cnbc.jpg?itok=opviMAi9
CNBC-TV18 successfully concludes the 8th edition of the ‘India Healthcare and Wellness Awards 2018’

NBC-TV18, India’s leading English business news channel along with ICICI Lombard hosted the 8th edition of the ‘Indian Healthcare and Wellness Awards 2018’ at The Grand Hyatt, Mumbai.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/mn.jpg?itok=QPriVkLO
MN+ to air Indian Television premier of ‘Tulip Fever’

MN+, the Gold Class of Hollywood Movies from the Times Network, brings to the viewers, for the first time on Indian television, the celebrated romantic historical saga– ‘Tulip Fever’. The movie will premiere on Sunday, 24th June at 1 pm and 9pm on MN+.

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/india.jpg?itok=M2oqHiQO
Sony Music acquires the music rights for 2018’s much awaited sports drama film ‘SOORMA’

Global music giant, Sony Music has acquired the music rights for Soorma – the greatest comeback story of the hockey legend Sandeep Singh.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/vs.jpg?itok=pVjUI8CY
Epic and Rupa publications announce the umeed india book on the occasion of international olympic day

EPIC TV - India’s only Hindi language, Indian Infotainment channel celebrates International Olympic Day with an exclusive unveiling of the first look of the Umeed India book published by Rupa Publications and based on its popular series, of the same name hosted by ace cricketer Virender Sehwag.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/bbc.jpg?itok=gE0qxQNX
Iconic series Blue Planet II set for Indian TV premiere on Sony BBC Earth after a successful theatrical run

All eyes on TV as India’s #1 factual entertainment channel, Sony BBC Earth, premieres the world-renowned, path breaking and breath-taking series Blue Planet II for the Indian audience on June 25th at 9 pm.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/fox.jpg?itok=tK9XckqM
FOX Life celebrates a perfect celebrity mismatch in Great Escape’s new season

He’s rugged, she’s delicate. He’s adventurous, and she is spiritual. They are two friends who, at a distance, might seem like polar opposites. But get closer and you are sure to be surprised. FOX Life, India’s favorite premium lifestyle channel,

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/22/dev2.jpg?itok=LqKTXd3c
Engaging viewers with diversified content, COLORS brings you investigative thriller - Dev2

He thinks like a criminal, is at home around a crime scene and possesses an ironclad will to rid the city of nefarious wrongdoers; Detective Dev Burman returns for an explosive second season on COLORS – India’s premium Hindi entertainment channel.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories