Shortly after agreeing to step dwon, former Viacom CEO Philippe Dauman sold nearly half a million shares of Viacom stock.
Dauman disposed of 200,000 Viacom B shares on Aug. 22 and another 227,046 share on Aug. 23 at almost $42 a share, according to a filing with the SEC. Total proceeds from the sales were $17.8 million.
Dauman continues to own more than a million shares of the media company. Viacom stock closed Wednesday at $41.34 cents a share, down 0.86%, making Dauman’s remaining holdings worth $41.4 million.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.