Spielberg may not snap ties with Paramount, says Viacom chief

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Washington, March 3 : Amid speculations that Steven Spielberg may be thinking of removing DreamWorks' stakes at Paramount to Universal, Viacom CEO Philippe Dauman says that he thinks Spielberg will not stop making films for Paramount.

"I've been spending a lot of time with Steven Spielberg," Contactmusic quoted Dauman as saying during a conference call with investors on Thursday.

He was hinting that they were deliberating upon a "very exciting idea" for a new film franchise, though he did not elaborate.

"We agreed to proceed calmly and mutually to see what structure the relationship takes. We'll just see how our relationship progresses,'' Dauman said.

Dauman also announced Viacom's fourth-quarter earnings results that showed profits rising 16 per cent to 559.5 million dollars from 480.8 million dollars during the same period a year ago.

He attributed the favourable results to Paramount's box-office and DVD hit 'Transformers' as well as ad sales at MTV.

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