21st Century Fox is interested in acquiring a stake in one of the original major Hollywood studios. The New York Post reports that Rupert Murdoch’s company is among the potential buyers of a minority stake in Viacom’s Paramount Pictures.
“Fox recently signaled its interest and would be interested in a deal to invest in the studio — worth $5 billion to $6 billion by some estimates — if it could provide synergies to the fabled Tinseltown movie studio, sources said,” the Post reports, adding: “Viacom Chief Executive Philippe Dauman, amid a cratering stock price and falling ratings, said on Feb. 23 that the media giant was considering selling a ‘significant’ minority stake in the 104-year-old studio, which had a 5.9 percent market share of the movie business in 2015, according to BoxOfficeMojo.”
Fox, which had an 11.3% share of last year’s movie business, is one of a dozen companies that are interested, the report notes. But the interest may not be mutual. The report notes that no talks have taken place between the two companies, and Viacom does not appear to be warming up to the idea of a partnership with Fox.