3 November 2009 2:40 PM, PST | Studio Briefing - Film News | See recent Studio Briefing - Film News news »
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. »
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