Viacom CEO Philippe Dauman just teased the announcement which he says will be coming “shortly.” The studio’s initiative will be “very small,” beginning with “a project based on one of our film properties,” he said at the Deutsche Bank Media, Internet and Telecom conference. It will enable Paramount to “get back, with very little investment, into the television production business.” Meanwhile he says that Paramount is “helping us to create value throughout Viacom.” Saying that the studio is performing financially at “steady state,” he talked up the SpongeBob SquarePants movie which will kick off a schedule of one animated release per year. “It’s also good for the Nickelodeon brand.” Viacom also sees “tremendous receptivity” overseas to the Paramount Channel. And Dauman says he’s encouraged by upcoming releases including Star Trek and World War Z.