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!
Viacom on Thursday reported a 34 percent decline in first-quarter profit, as a moribund advertising market took a bite out of the conglomerate’s media networks division.
For the three-month period ended March 31, Viacom posted $177 million (or 29 cents a share in net earnings), down from $270 million (or 42 cents a share), in the first quarter of 2008. Total revenue decreased 6.8 percent to $2.91 billion.
The media networks unit, which includes the cable networks MTV, VH1, Comedy Central, Spike TV and Nickelodeon, saw revenue decline 7.5
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in