Viacom will work with DreamWorks

Phillipe Dauman looks to future dealings

NEW YORK -- Viacom chief Philippe Dauman on Thursday reiterated his confidence that his company will work with Steven Spielberg in the future.

It was Dauman's first public appearance since the news last week that the filmmaker is in talks with Indian entertainment giant Reliance to raise $550 million in return for a 50% stake in a new version of DreamWorks, which Spielberg would create after exiting his deal with Paramount.

"I have been enjoying a great relationship with Steven," Dauman said at the annual PricewaterhouseCoopers Entertainment & Media Outlook report launch event. "To the extent that he decides that he'd like to have more autonomy (and get financing) ... we'll work with him in one capacity or another."

Whatever happens, Dauman said Paramount will remain focused on building film franchises and brands to succeed.

"It will work out the right way for all involved," he said. "We want (Spielberg) to be happy, and I'm sure he wants us to be happy."

Dauman also said the Viacom team plans to remain focused on executing its business plan, arguing that the company's depressed stock price will catch up over time. The stock last week hit a new low since the firm's split from CBS Corp.
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