Mark your calendar for Mediaweek, October 29-30 in New York City. We’ll unpack the biggest shifts shaping the future of media—from tv to retail media to tech—and how marketers can prep to stay ahead. Register with early-bird rates before sale ends!
A month after dialing back its outlook for the remainder of 2008, Viacom on Monday announced that third-quarter profit fell 37 percent versus the year-ago period, as a ratings slump at the flagship MTV compounded the effects of a softening ad sales market.
Net income for the quarter plunged to $401 million, or 65 cents a share, from $641 million, or 96 cents, in the third quarter of 2007. Domestic ad sales fell 3 percent as MTVN saw pullback in categories such as automotive, beverages and videogames, while global ad sales fell 2 percent to $1.16
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in