Wednesday, December 14, 2005

Viacom to sell Paramount Parks

Here we go again... according to Reuters....

DUBAI, Dec 13 (Reuters) - Viacom Inc. (VIA.N: Quote, Profile, Research) (VIAb.N: Quote, Profile, Research) is ready to sell theme parks owned by its Paramount Pictures division, as well as book publisher Simon & Schuster, chairman Sumner Redstone said on Tuesday.

The U.S. media conglomerate splits into two companies on Dec. 31, separating its faster growing cable networks and film business from the relatively sluggish CBS television broadcasting and radio operations.

Simon & Schuster, which will be part of the more mature side of the business has often been cited along with the theme parks as assets Viacom might choose to sell.

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