Viacom still pursuing Paramount Studios stake sale: CEO

June 9, 2016 4:10 PM

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NEW YORK - Viacom Inc is still looking to sell a minority stake in its Paramount film unit, but objections from controlling shareholder Sumner Redstone have impeded the deal, CEO Philippe Dauman told investors on Thursday.

Redstone's National Amusements Inc, which holds 80 percent of Viacom voting shares, recently amended the bylaws of Viacom to require unanimous approval from Viacom's board for any deal related to Paramount Pictures.

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