title: Inside the Viacom - Paramount deal
Creators: name: Nelip, Justyna
Publisher: name: :none
Year: 2012

description: Die vorliegende Arbeit untersucht den Übernahmekampf um Paramount Communications zwischen Viacom und QVC. Es gibt eine detaillierte Analyse von der Übernahme, ihre strategischen und finanziellen Gründen sowie Auswirkungen. Heute gehört Viacom zu den weltweit führenden Medienkonzern. Das Unternehmen hatte einen Umsatz in der Höhe von $9,34 Mrd. (2010), das Umsatzwachstum 1% und Return on Equity 18, 2%. Am 3. Februar 2011 während der Finanz-Mitteilung für das Jahr 2010, sagte Philippe Dauman – der Präsidenten und CEO des Unternehmens: “We're off to a great start in fiscal 2011. The creative momentum in our major networks is building as we judiciously invest in original programming. This puts Viacom in the pole position in the race to capitalize on new opportunities for monetizing television content through emerging media here and around the world. We're excited about the potential for expanding our international businesses, and we know that our film studio is poised for a great year.” Meiner Meinung nach hat Viacom für Paramount von mehr als 2 Milliarden Dollar überbezahlt. Viacom war bereit, mehr als QVC zu zahlen und deshalb hat Viacom den Kampf gewonnen. Auch wenn Sumner Redstone, der CEO von Viacom, besaß mehr als 75% der Viacom Cash-Flows der Stimmrechte, überschritt der Preis der Hybris 1,5 Milliarden Dollar. Obwohl Viacom um mehr als 2 Milliarden Dollar überbezahlt hat, unter dem Kommando von Redstone, hatte das Unternehmen die beste Filme aller Zeiten produziert: "Saving Private Ryan", "Titanic", "Brave Heart" und "Forrest Gump“.
description: This thesis studies the takeover battle for Paramount Communications between Viacom and QVC. It gives a detailed analysis of Viacom‘s acquisition of Paramount Communication, its strategic and financial reasons as well as impacts. Today, Viacom is one of the world’s leading media conglomerate, when comparing its revenues for 2010 ($9, 34 billion), revenue growth (1%) and Return on Equity (18, 2%) with peers. On the 3rd of February 2011 during the Financial Announcement for the year 2010, the President and CEO of the company, Philippe Dauman said: “We're off to a great start in fiscal 2011. The creative momentum in our major networks is building as we judiciously invest in original programming. This puts Viacom in the pole position in the race to capitalize on new opportunities for monetizing television content through emerging media here and around the world. We're excited about the potential for expanding our international businesses, and we know that our film studio is poised for a great year.” In my opinion Viacom overpaid for Paramount by more than $2 billion. Viacom was willing to overpay more than QVC was willing to and that is why the company won the takeover battle. Even though Sumner Redstone, the CEO of Viacom, owned more than 75% of Viacom’s cash flows of voting rights, the price of hubris exceeded $1.5 billion. Even though, the company overpaid by more than $2 billion, under the command of Redstone, Viacom had the best performance ever. The company produced during these 10 years such films as: “Saving Private Ryan”, “Titanic”, “Brave heart” and “Forrest Gump”.