SOUTH PARK - VIACOM CEO SAYS VIACOM MAKING "CREATIVE RENAISSANCE"

VIACOM CEO SAYS VIACOM MAKING "CREATIVE RENAISSANCE"

Viacom chief Philippe Dauman, under fire for drawing a compensation package of $23 million in 2008 -- a $3-million raise over 2007 -- even as the company's stock dropped to a historic low, claimed Thursday that it is now "on the verge of a creative renaissance." Speaking at a shareholders meeting in New York, Dauman said that the recession had forced the company to streamline its operations and pointed out that its shares are up 19 percent from the start of the year versus a 3 percent rise by the Dow Jones index. He also pointed to the enduring popularity of such Viacom-owned shows as Sponge Bob Square Pants on its Nickelodeon channel and South Park on its Comedy Central channel. The MTV Movie Awards special, he noted, showed a 92 percent ratings boost. And, in its Paramount movie division, Star Trek has become the biggest box-office hit of the year.

05/06/2009