Paramount Pictures continues to struggle when it comes to its movie business, but the man leading the studio’s parent company says some financial help could be on the way.
More than 40 companies expressed an interest in acquiring a minority stake in Paramount, chief executive officer Philippe Dauman said, and his team will now start the process of winnowing that down to the strongest candidates.
“There is strong interest from around the world,” Dauman said, according to Variety. “We will have a compelling result that will be both a strategic driver, and reflect the significant value of Paramount.”
Paramount announced in February that it was seeking a company to become a large investor, possibly buying a minority stake in the studio that could be worth more than a billion dollars. Such an investment is needed as Paramount continues to lose marketshare, and is losing money for its Viacom parent.