Moody's says Viacom's (Baa3) sale of its approximately 50% stake in EPIX is credit positive
Announcement: Moody's says Viacom's sale of its approximately 50% stake in EPIX is credit positive. Global Credit Research- 06 Apr 2017. New York, April 06, 2017-- Moody's Investors Service said that Metro-Goldwyn-Mayer Inc.' s announcement to acquire Viacom Inc.' s approximately 50% stake in EPIX for approximately $640 million before taxes was credit positive, but did not impact the company's Baa3 senior unsecured debt rating or stable outlook.Viacom provides entertainment through television, film, digital media, live events, merchandise and solutions. The company operates through two segments: Media Networks, which provides entertainment content, services and related branded products for consumers in targeted demographics attractive to advertisers, content distributors and retailers through its media brands including Nickelodeon, MTV, BET, Comedy Central and Paramount Network; and Filmed Entertainment, which develops, produces, finances, acquires and distributes films, television programming and other entertainment content through its Paramount Pictures, Paramount Players, Paramount Animation and Paramount Television divisions.
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