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Fly News Breaks for September 19, 2016
VIAB
Sep 19, 2016 | 07:36 EDT
As noted earlier, Stifel downgraded Viacom to Hold from Buy. After multiple news outlets reported that the company had decided to table its plans to sell a minority stake in Paramount, Stifel analyst Benjamin Mogil says that the stock's valuation is no longer attractive in the wake of the news. Additionally, Mogil says that, if the reports are accurate, Viacom will probably have to reduce its dividend by 50% and will face capital constraints as it looks to rebound from its difficulties.
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