Gabelli: Viacom Should Sell Stake in Studio, Buy AMC

Bloomberg: Mario Gabelli, the largest outside investor in Viacom voting stock, said the company should sell a piece of its Paramount Pictures division to Jack Ma’s Alibaba and merge with AMC Networks. A partnership with Ma would give Viacom access to capital and a global view of the entertainment business as the Chinese film market grows rapidly, Gabelli said. Also, AMC has a good track record of making hits. “Distribution is important, but content is king.”