Viacom (MTV, Paramount, etc) Earnings Dive 69% (Dinosaur Media DeathWatch™)

The Street.com ^ | February 12, 2008 | Joseph Woelfel

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Media company Viacom(VIA Quote - Cramer on VIA - Stock Picks) said fourth-quarter earnings fell 69% to $173 million, or 28 cents a share, as revenue remained flat at $4.24 billion.

Excluding restructuring and other charges, Viacom said earnings from continuing operations were 76 cents a share compared with 84 cents a year earlier.

Analysts surveyed by Thomson Reuters expected fourth-quarter earnings of 77 cents a share on revenue of $4.24 billion.

The company said operating income in the quarter fell 51% to $475 million, including the impact of $454 million in restructuring and other charges.

"Our fourth-quarter results reflect the realities of a challenging economy," said Philippe Dauman, Viacom's president and CEO. "Broad marketplace conditions weighed on our advertising, home entertainment and consumer products businesses. That was offset, however, by solid growth in our affiliate and theatrical revenues, both up double digits."

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Thursday morning good news.

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ping

[AD from SpringBay]

They could shut down MTV and no one would notice and they would save some money - a win for everyone.

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http://www.deadlinehollywooddaily.com/will-moonves-man-up-to-cut-cbs-dividend/
Moonves Manning Up To Ax CBS Dividend?

http://newsosaur.blogspot.com/
Default-O-Matic update: Closer to brink

http://www.magazinedeathpool.com/
Magazine Death Pool

[demshateGod]

The best news I’ve heard today is from John 12. This is the second best news!

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http://www.niemanlab.org/2009/02/pension-funding-gap-looms-as-another-newspaper-problem/
Pension funding gap looms as another newspaper problem

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http://www.slate.com/id/2210912/
Blessed Be the NewsmakersA new business model for the press: Declare itself a religion.

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http://www.marketwatch.com/News/Story/Story.aspx?guid={83D58628-CEB1-4F6A-90CD-C71E6E900938}&siteid=nbih
Viacom profit tumbles, hurt by lower advertising

[WaterBoard]

MTV which means “Music Television” turned into a rap/hip hop culture sewer pipe. I wonder why 83% of the population that is not part of that culture abandoned it?

[Zakeet]

Moonves Manning Up To Ax CBS Dividend?

I'll bet it's gone.

Of course, that will continue to drive down the stock price. And it will make the fight between Sumner and his former trophy squeeze even more bitter, but that's how the world turns on the edge of night.

[abb]

http://www.chicagoreader.com/features/stories/hottype/090212/
Comics Stripped
As alt-weeklies drop their funnies, is the end of a genre near?

http://gawker.com/5152127/did-nbc-news-bribe-octo+mom
Did NBC News Bribe Octo-mom?

http://www.medialifemagazine.com/artman2/publish/Television_44/Ad-wise_the_Oscars_in_this_digital_age.asp
Ad-wise, the Oscars in this digital age
The price of a spot is down for the Academy Awards

http://www.marketwatch.com/News/Story/Story.aspx?guid={BFD1177A-3B98-436D-BCA4-73AD075AF78F}&siteid=nbih
Viacom execs: DVD sales under pressure

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http://www.rockymountainnews.com/news/2009/feb/11/denver-newspaper-agency-seeks-35-million-cuts/
Denver Newspaper Agency seeks $35 million of cuts
Larger cost savings sought from operations, management

[SanFranDan]

Sigh, Big Happy Smile!

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http://cancelthebee.blogspot.com/
Sacramento Bee management warns: “mass layoffs” a possiblity at the Bee beginning in March

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http://www.washingtontimes.com/news/2009/feb/12/press-corps-fractures-as-news-bureaus-wane/
Press corps fractures as news bureaus wane

[Grampa Dave]

http://www.magazinedeathpool.com/
Magazine Death Pool

Thanks for the morning chuckles re these mags fading into the abyss.

Many if not most mags will become freebies to distribute ads and coupons.

[abb]

Lots of chatter at the CanceltheBee about the upcoming layoffs.

Could be hugh.

[Grampa Dave]

Many of us would pay to spit or urinate on the corporate grave of the vile Bees when they drop into the abyss.

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http://www.thedailybeast.com/big-fat-story/2009-02-12/can-the-new-york-times-be-saved/
Can the New York Times Be Saved

http://www.nypost.com/seven/02122009/gossip/pagesix/nbc_and_the_octomom_154693.htm
NBC AND THE OCTOMOM

http://online.wsj.com/article/SB123438092027574105.html
Les Talk, More Action for CBS

[Milhous]

Blessed Be the NewsmakersA new business model for the press: Declare itself a religion.

When the likes of Slate starts quoting scripture you just know that dinomedia must feel the heat, so to speak, as its own end time rapidly approaches. Dinomedia quite naturally loves to fancy itself as dutifully delivering Jeremiads to the Great Unwashed. OTOH dinomedia seems to lack the requisite humility and self scrutiny to ever imagine itself as playing the part of Hananiah instead of Jeremiah.