Making his first public pitch since succeeding Tom Freston earlier this month, new CEO Phillipe Dauman told the Goldman Sachs audience that the idea of the MTVN youth audience swapping the Web for TV is a “big myth.” On the contrary, he said, ratings are up for the third quarter and are up 37 percent over the same period in 1996. Instead of swapping one for the other, he said, they’re multitasking between TV, web and handhelds.
CNNMoney: Viacom is looking for deals at “the right price” is unlikely to spend more than a couple of hundred million on any one acquisition.
Hollywood Reporter: Dauman said Viacom has “a lot of organic growth potential” and — with 37 million uniques in August — a particular opportunity to accelerate on the digital front: “We have to sell and monetize what we have.” He’s sticking to earlier statements about focusing on smaller acquisitions in core areas, saying the company possibly could do select buys in the $100 million range.
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