Viacom's (VIA) new CEO Philippe Dauman told investors at the Goldman Sachs Communacopia conference in New York that they are not trying to find blockbuster deals to go ahead with their internet strategy, but rather are hunting for smaller companies to ignite its online presence. When they say "small" they mean no more than around $200 million, contrary to some of the larger purchases like News Corp. (NWS) has made.
With investors nipping at their heals because Viacom has been 
perceived as a laggard compared with other entertainment companies that have already entered the internet space, the pressure is on to get the digital process going. They are also being compared with recent spin-off CBS, which has performed better than Viacom, along with other rivals like the Walt Disney Co.(DIS) and News corp.
Some comments made by Viacom executives sound like they are quietly resisting shareholders pressures as Dauman said that Viacom wasn't being given credit for the content they own and concerning Viacom's strategy, "When I look at this company, I think it is not well understood yet, when I look at what we have today, I see opportunity." In other words, he doesn't think that the internet is the cause of the problem, but shareholders not understanding the value of the company as it is.
Still another way of putting what he said is that people need to look at what they have now versus future growth; which the internet represents.
In a sense both sides are right in this. Still, any company must embrace the future, which in the entertainment business is the internet. Viacom's inability to do this has been what the real problem with the company's share price, and lack of investor confidence.
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