Coming in ahead of most new quarterly reports from media conglomerates, Viacom raised spirits today (Tuesday) by reporting a 15-percent boost in profits. It credited the success of DreamWorks/Paramount's Transformers: Revenge of the Fallen for a large measure of the success but also noted that its cable-TV channels, which include MTV, Nickelodeon, BET and Comedy Central, also showed solid growth. In a conference call, Viacom CEO Philippe Dauman indicated that advertisers are returning to TV and cable, especially automotive companies, who had "suffered a lot in the recession." However, he cautioned, "The next several weeks going forward will really tell the tale" of whether a full-scale recovery is taking place.

Tuesday, November 3, 2009

AT LAST: A MEDIA “CONGLOM” REPORTS PROFITS BOOST

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