Viacom Explores Possible Sale Of Famous Music
February 6, 2007 at 1:20 PM (PT)
VIACOM has decided to explore strategic alternatives to maximize the value of FAMOUS MUSIC, its music publishing business. The company has retained UBS INVESTMENT BANK to act as financial advisor to assist in this process.
FAMOUS MUSIC was founded in 1928 by PARAMOUNT PICTURES' predecessor, the FAMOUS-LASKY CORP., to publish music from its "talking pictures." Today it is one of the top 10 music publishers in the U.S., supplying music to a diversified range of global media.
Since 1992, FAMOUS MUSIC has moved aggressively into the mainstream of contemporary music with such platinum-plus acts as SHAKIRA, AKON, EMINEM and BUSTA RHYMES.