Cash in the Catalog
Mixed amidst Viacom's first release of financial data ― net earnings of $130 million, down nearly 70% due to a $94 million loss in the studio driven by a 42% drop in worldwide theatrical revenues ― was more detail on its impending sale of the DreamWorks 61-title library. Executives indicated that the expect at least $900 million for the library, up from earlier estimates of $800 million-$850 million.
While Paramount is still in talks with George Soros' Soros Capital Management, according to Variety, other possible buyers include "Goldman Sachs, led by banker Joseph Ravitch, [who] is said to be readying an offering worth about $930 million. Ravitch helped put together financing for the Weinstein Co. and the sale of MGM to Sony and a group of investors. And another possible offer is said to be coming from Dresdner Bank representing some Russian investors." Should Soros prove successful, it is reported that he might be joined by Dune Capital Management the film co-financing entity, which is a spinoff from Soros Capital.
Whichever way it falls out, this puts the value of the rights to these films at an average of approximately $15 million.