Viacom Inc. said Wednesday after the closing bell that it is exploring the possible break-up of the company into separate publicly traded companies.
“We believe that a separation of our businesses into distinct and strong operating entities would allow us to optimize our capital structure and create unique investments that are more appealing to investors with different objectives,” said Sumner Redstone, Viacom’s chairman and CEO, in a statement.
The New York-based media giant said that it expects to release further details of the plan in the second quarter.
