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Report: Sumner Redstone against Paramount sale


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Report: Sumner Redstone against Paramount sale

SumnerRedstone, chairman emeritus of ViacomInc., is against the saleof Viacom's holdings in Paramount Pictures, TheWall Street Journal reported April 11, citing sources with knowledge of thematter.

Soon aftera plan to sell a stake in the studio was announced, Redstone called ParamountCEO Brad Grey and expressed displeasure about the potential sale, according tothe report.

Additionally,Redstone told other people that he does not want to sell Paramount, sourcesreportedly said. Viacom CEO Philippe Dauman met earlier with Redstone todiscuss the plan and thought he heard the executive agree to it, according tothe Journal.

Three dozencompanies have expressedinterest inParamount, includingDMG Entertainment and AlibabaGroup Holding Ltd., 21st Century Fox Inc. and Skydance Media.