Viacom's 2Q profit falls 32 percent (Dinosaur Media DeathWatch™)

Yahoo Finance ^ | July 28, 2009 | Staff

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Viacom's second-quarter profit tumbled 32 percent as revenue fell amid a weak advertising market, slower video game sales and fewer movie releases.

The media conglomerate controlled by billionaire Sumner Redstone earned $277 million, or 46 cents per share, compared with $407 million, or 65 cents per share, in the same quarter last year.

Excluding 3 cents per share in severance charges, adjusted earnings were 49 cents in the latest quarter.

Revenue slipped 14 percent to $3.3 billion.

Analysts projected income of 48 cents per share on sales of $3.5 billion.

New York-based Viacom Inc. owns a wide range of media properties including Paramount Pictures and the "Rock Band" video-game franchise.

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Tuesday morning good news.

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ping

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http://online.wsj.com/article/SB124870053062783671.html
Silverman to Depart His Post at NBC

http://www.nytimes.com/2009/07/28/business/media/28nbc.html?ref=business
Silverman Quits NBC Universal; Cable Executive Succeeds Him

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http://blogs.newsobserver.com/business/no-publishing-co-to-cut-10-jobs
N&O Publishing Co. to cut 10 jobs

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http://www.latimes.com/business/la-fi-ct-nbc-silverman28-2009jul28,0,5176343.story
NBC shakes up entertainment team: Jeff Gaspin up, Ben Silverman out

http://www.latimes.com/business/la-fi-ct-seacrest28-2009jul28,0,4397859.story
Seacrest is fast on his tweet, scoops media on Silverman

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http://www.chicagotribune.com/business/chi-biz-tribune-july27,0,1907608.story
Tribune Co. seeks extension of reorganization plan

http://www.marketwatch.com/story/mcgraw-hill-reports-profit-drop-2009-07-28?siteid=nbih
McGraw-Hill reports profit drop

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=110528
Declining Dollars: Belo, Media General Report Weak 2Q

[Caipirabob]

In truth, I’m finding I can do without the media, it’s the net and FR that I’m dependent on. Facebook, too, for contacts.

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http://www.medialifemagazine.com/artman2/publish/Television_44/Pondering_NBC_with_Silverman_out.asp
Pondering NBC with Silverman out

http://www.newspaperdeathwatch.com/
Publishers Profit for Wrong Reasons

http://blog.taragana.com/e/2009/07/24/associated-press-board-approves-10-percent-rate-cuts-in-2010-for-local-tv-stations-19170/
Associated Press board approves 10 percent rate cuts in 2010 for local TV stations

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You are still using the “media.” But it is what YOU want to read and watch, not what THEY want you to.

That is the big change.

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http://www.johntemple.net/

PULITZERS LOST, WHAT A COST - Fifth in a series on the impact of thousands of job cuts at America’s newspapers

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http://www.buzzmachine.com/
Pay = “mass delusion”: Schiller

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http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003997854
About 100 AP Staffers Take Buyout

http://www.thedailybeast.com/blogs-and-stories/2009-07-27/dan-rather-sounds-off-on-cbs-bloggers-and-cable-news/full/
Rather Sounds Off

[MovementConservative]

That’s still a nice profit. Would be nice if the profit was zero.

[Luke21]

Great news. I hate Viacommunist.

[Luke21]

If it wasn’t for baseball and the NFL, I would cancel all television.

[MovementConservative]

Too bad only one of the ten positions cut at the N&O was in the newsroom. I like seeing leftist hacks get cut out of the news business, not so much seeing the working stiffs get cut.

[MovementConservative]

You have to love it that Rather and CBS are engaged in a mutual destruction death match. I hope they both lose.

[ConservativeMind]

I don’t think Viacom has anything of value to watch, and hasn’t for awhile.

A one-third drop in profits is a hopeful sign that there will be an end to that beast.

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http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003997930
Gannett Keeps Dividend Streak Alive With Mini-Payout

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http://www.foliomag.com/2009/governing-magazine-goes-block
Governing Magazine Goes on the Block

http://news.yahoo.com/s/usnw/20090728/pl_usnw/times_publishing_co__announces_plans_to_sell_governing
Times Publishing Co. Announces Plans to Sell GOVERNING

http://www.mediabistro.com/tvnewser/ratings/july_ratings_fox_news_beats_msnbc_cnn_combined_in_total_day_and_prime_122858.asp
July Ratings: Fox News Beats MSNBC & CNN Combined in Total Day and Prime