Viacom explores sale of music publishing unit
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From Reuters
Viacom Inc. said it might sell its music publishing business, which includes music from contemporary hit artists Eminem and Shakira.
Viacom, which owns movie studio Paramount Pictures and cable channel MTV Networks, has hired UBS Investment Bank to explore strategic alternatives to boost the value of the division, Famous Music.
Famous Music was founded in 1928 by Paramount’s predecessor, Famous-Lasky Corp., to publish music that accompanied its movies.
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