Viacom Inc. bought back a majority stake in the DreamWorks SKG film library from billionaire investor George Soros, taking on $400 million in debt to regain rights to movies such as “Gladiator.”
The purchase of Soros’s 51 percent stake in 59 titles, including “Saving Private Ryan,” was completed on Feb. 8, Viacom chief financial officer Thomas Dooley said Thursday on a conference call.
The sale occurs as bidders consider offers for film companies including Metro-Goldwyn-Mayer Inc., Overture Films LLC and Walt Disney Co.’s Miramax. Viacom said in March 2006 it agreed to sell the library to Soros in a transaction valuing the films at $900 million. The company reported in later filings that it retained a 49 percent stake.
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