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The Wall Street Journal: Paramount Pictures Chief Gets Vote of Confidence From Viacom

Paramount Pictures Chief Executive Brad Grey received a vote of confidence from parent company Viacom Inc. VIA, -0.84%VIAB, -0.72% and its board of directors, a day after presenting a turnaround plan for reviving the studio following a recent losing streak at the box office.

In a statement, Viacom Vice Chairman Shari Redstone, interim Chief Executive Tom Dooley and the rest of the board said they “remain fully supportive of Brad and his leadership of the studio.”

“Under Brad’s leadership, Paramount has taken significant, successful steps to broaden and strengthen its business, and we are confident that Brad and his team have the skills, relationships and resources necessary to return Paramount to success in its movie business and continue its rapid growth in television,” they said in the statement.

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