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Viacom said profit in its third fiscal quarter rose as the company saw positive ad sales from its cable networks for the first time in about five years.
The New York owner of Nickelodeon, MTV and the Paramount movie studio said operating income rose 1%, to $757 million from $752 million. Revenue rose 4% to nearly $3.36 billion, from nearly $3.24 billion in the year-earlier period.
Results - Viacom - Talks - CBS - Corp
The results come as Viacom is engaged in ongoing talks about merging with CBS Corp., the media conglomerate that is, like Viacom, controlled by the Redstone family’s National Amusements Inc. movie-exhibition chain. The two companies have pondered a corporate tie-up twice in recent years, prodded by the desire of Shari Redstone to gain more scale in an industry where consolidation has created giants like a newly expanded Walt Disney Company; an AT&T-controlled WarnerMedia; and an NBCUniversal backed by cable giant Comcast. But those talks have grown more serious, with the two companies agreeing on a possible executive structure for the combined entity.
Viacom offered no detail...
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