13 hours ago | The Wrap | See recent The Wrap news »
Paramount Pictures has scaled down the number of films it releases and the lack of winter and spring blockbusters proved a drag on parent company Viacom's quarterly earnings. Revenue at the entertainment giant fell 6 percent for the three month period ending in March, which the company attributed to weaker earnings from its theatrical film releases. That just missed Wall Street's expectations; analysts had projected the company would record revenues of $3.19 billion, according to Thomson Reuters. Net earnings fell 18 percent from the same period a year ago to $481 million. »
- Brent Lang
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