Viacom Inc. -- Moody's says Viacom's interest in pursuing a deal to sell a minority stake in Paramount will not impact its credit ratings

New York, February 24, 2016 -- Moody's Investors Service said that Viacom Inc.'s ("Viacom") interest in partnering with a strategic investor and selling a minority equity interest in Paramount Pictures will not impact its Baa2 senior unsecured long term debt rating or the Stable outlook. Viacom's CEO, Mr. Philippe Dauman, said that the company had been approached by strategic investors and such a partnership would be strategically and financially beneficial for Paramount. Press reports indicate that potential suitors for Paramount could be firms from China, given the Chinese government's goal to renew and rapidly expand its film industry. We believe that a tie-up with a company from China, would be a positive development from a strategic perspective as the Chinese market is playing an increasingly important role in the global film and television industry. Such a deal would give the studio opportunities to expand distribution in the world's largest market and allow for collaboration with a local partner to market, distribute and promote films in China.

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