Former Viacom exec and investors approached company about selling park unit

Posted Friday, February 25, 2005 9:27 AM | Contributed by supermandl

A team led by a former top Viacom executive has quietly approached the media giant about buying its Paramount Parks unit, The New York Post has learned. Tom McGrath, who stepped down as head of Viacom Inc.'s Paramount Enterprises last summer, has lined up investment firms Spectrum Equity Partners and GS Capital Partners, Goldman Sachs' private equity arm, to back him in his efforts to acquire the theme parks business, sources familiar with the situation said.

Viacom co-COO Tom Freston confirms that they're considering "doing something" with the Paramount Parks unit.

Read more from The New York Post and The Globe And Mail.

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