Viacom, the de-merged cable network and movie studio, announced that its 4th quarter profit fell 68% on a string of charges related to its split from CBS and severance costs, but revenue rose on higher advertising sales at its MTV Networks.
The results were solid if uninspiring. To turn that around Viacom needs to improve things at Paramount and make sure that the acquisition of Pixar is a big success (and the two are inexorably linked). Viacom needs more than just MTV to shine.
And a footnote in their announcement reveals that they aim to grow their digital business from revenues of $150M last year to $500M in three years. I cannot understand any media company right now that has digital as a footnote. Oh, well.
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