Monday, August 26, 2019Canada's Leading Online Business Magazine

Viacom Has Strong Quarter

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CBJ — Viacom beat most analysts’ expectations for the last quarter, posting rare growth in domestic advertising revenue after nearly five years of declines.

Viacom is the parent company of such cable television networks as MTV, Comedy Central and Nickelodeon.

The company came out with earnings of $1.20 per share for its third quarter, beating expectations of $1.06 per share.

Meanwhile, discussions with CBS to about once again joining forces are continuing, with a final deal possible very soon.

Last week, the two companies, both controlled by Sumner and Shari Redstone’s National Amusements, agreed to a management structure that will see Viacom Chief Executive Bob Bakish become the CEO of the new merged company.

@CanBizJournal

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