DREAMWORKS - AT LAST A MEDIA "CONGLOM" REPORTS PROFITS BOOST

AT LAST A MEDIA "CONGLOM" REPORTS PROFITS BOOST

Coming in ahead of most new quarterly reports from media conglomerates, Viacom raised spirits today (Tuesday) by reporting a 15-percent boost in profits. It credited the success of DreamWorks/Paramount's Transformers Revenge of the Fallen for a large measure of the success but also noted that its cable-TV channels, which include MTV, Nickelodeon, BET and Comedy Central, also showed solid growth. In a conference call, Viacom CEO Philippe Dauman indicated that advertisers are returning to TV and cable, especially automotive companies, who had "suffered a lot in the recession." However, he cautioned, "The next several weeks going forward will really tell the tale" of whether a full-scale recovery is taking place.

03/11/2009