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Pro Analysis

Viacom CEO has one last chance for redemption

Philippe Dauman, Viacom
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Philippe Dauman, Viacom

Philippe Dauman's number is up. The Viacom boss has overstayed his welcome at Sumner Redstone's struggling media empire. But the chairman and chief executive has one last scene to shoot: selling a stake in film studio Paramount Pictures. Handing over a potential $4 billion cash windfall while gaining better access to China's booming movie market would leave the enterprise better off for all shareholders.