Viacom Inc. in Deal with Snapchat

The Wall Street Journal has recently reported that Viacom Inc. is extending its deal with Snapchat to sell advertising on the mobile app’s behalf. The deal is a multi-year one that is expected to be discussed by Viacom chief executive Philippe Dauman on Tuesday during their earning calls

Viacom, according to the deal, will have exclusive third-party rights to directly sell advertising that has to do with Snapchat’s content. Viacom has recently changed some of their leadership, appointing Dauman as executive chairman. The appointment has had mixed reviews. SpringOwl Asset Management was disappointed with the decision, while Permanent Portfolio of Family of Funds was happy about it.