It's already being reported as though it's done, Dauman's gone, and he's been replaced.
http://www.hollywoodreporter.com/thr-esq/philippe-dauman-settlement-get-judges-923160
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Philippe Dauman ousted as Viacom CEO in settlement with Sumner Redstone family
- Thread starter mvcg66b3r
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It's already being reported as though it's done, Dauman's gone, and he's been replaced.
http://www.hollywoodreporter.com/thr-esq/philippe-dauman-settlement-get-judges-923160
This is hilarious. This analyst doesn't understand why people invest. Dividends are what it's all about. If Viacom cuts dividends, people will continue to sell the stock, driving the price down further, leaving the company with even less money to work with.
As he himself says: "Juenger notes that cutting the dividend would probably hurt Viacom’s stock price in the short term."
Terrible idea. There are lots of other ways to build resources for investment besides hurting the stockholders. They need to improve profitability. They need to seek out new value within their products. And they need to toot their own horn and let the world know what they're doing.
As he himself says: "Juenger notes that cutting the dividend would probably hurt Viacom’s stock price in the short term."
Terrible idea. There are lots of other ways to build resources for investment besides hurting the stockholders. They need to improve profitability. They need to seek out new value within their products. And they need to toot their own horn and let the world know what they're doing.
http://www.broadcastingcable.com/news/currency/moonves-no-talks-viacom-merger/159644
Update! about this rumor.
Update! about this rumor.
It's really up to Sumner. He's the one they have to convince. But the timing is good, since there is no real competition now for overall Chairman. It would be Moonves, and he would get the one thing he really wants, which is a movie studio. They're spinning off radio, and they'll get a big cash infusion for that. It really makes the spin-off even more logical.
The real bad news is the $12 billion in debt that Viacom has. How did they get so much debt? I can't see CBS paying a lot if they have to absorb that much debt. When they split, it was all done with stock. Perhaps that's what they do this time. But now that Viacom stock is selling at $15 lower than CBS, Viacom stockholders might get 3/4 a share of CBS for every share they have of Viacom. Plus assumption of debt. If you're Sumner, and you own controlling shares in each company, what do you do?
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