Viacom's Earnings Climb, But Paramount Weaker, Ads Light
The owner of MTV, Nickelodeon and Paramount Pictures reported stronger fourth-quarter earnings. But Viacom's (VIAB) revenue fell more than analysts expected on declining advertising revenue and a dearth of strong movie releases. The media giant's shares surged 4% early in the session to 49.92. "Viacom is executing on its goals of continued investment in great content, ongoing operational excellence and ever-increasing returns to shareholders,"