Paula Redstone

CBS Corp., the broadcast network controlled by Sumner Redstone, reports its third-quarter earnings Thursday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: Advertising trends will be the focus of CBS Corp.'s third-quarter earnings, and if ad prices at sister company Viacom Inc. are any indication, the market for commercial time on TV improved in the third quarter. Viacom, which like CBS is majority controlled by 86-year-old Redstone, reported Tuesday that prices for ad slots were 10 percent or more above rates earlier in the year, when TV networks sold the bulk of their fall season inventory. ... Read Full Story

Viacom Inc., the media conglomerate controlled by Sumner Redstone, reports third-quarter earnings before the market opens on Tuesday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: The continuing ad slump is expected to hurt third-quarter revenue at Viacom, which owns Paramount Pictures, cable properties including the BET and MTV cable networks and the "Rock Band" video games. But Wall Street anticipates a slight improvement in earnings as game and film sales improve. The market research firm NPD Group said September game sales showed a year-over-year uptick of 1 percent after six months of double-digit declines. Viacom's ... Read Full Story

Viacom says its third-quarter profit jumped a better-than-expected 15 percent as a stronger movie slate offset continuing declines in advertising and DVD sales. The media conglomerate controlled by billionaire Sumner Redstone owns a wide range of media properties including Paramount Pictures, the MTV and Nickelodeon cable networks and the "Rock Band" video-game franchise. The company, based in New York, says it earned $463 million, or 76 cents per share, up from $401 million, or 65 cents per share, a year ago. Excluding certain one-time gains, adjusted earnings came to 69 cents a share. Analysts were looking for earnings of 57 cents per share. Viacom ... Read Full Story

Media mogul Sumner Redstone's holding company, National Amusements Inc., said Wednesday it is selling a portion of its stake in CBS Corp. and Viacom Inc. to pay off its debts. The move appears to alleviate concerns that National Amusements could lose control of the companies or run into trouble with its creditors. The company said the move will allow it to retain controlling interests in both CBS and Viacom while paying off its own borrowings in full. It said it will still have 75 percent voting control in each company and does not plan to reduce its stake any further. Dedham, Mass.-based National Amusements ... Read Full Story

Viacom Inc. struck a hopeful note on advertising for the rest of the year even as the media conglomerate controlled by Sumner Redstone saw second-quarter profit plunge on weak ad markets, video game sales and box-office returns. Viacom CEO Philippe Dauman said the company, which owns the BET and MTV cable TV networks, was "very pleased" with the nearly completed bidding in the so-called "upfronts," in which media buyers bid on commercial time ahead of the coming TV season. Advertisers no longer count on dramatic reductions in prices "as we see signs of recovery," Dauman told analysts on a conference call. Analysts remain wary, ... Read Full Story