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05 billion in the first quarter, up from $5 Operating income moved modestly to $191 million from $190 million For the January-March quarter, Viacom had net earnings of $443 million, or 25 cents a share, reversing last year's first-quarter net loss of $1 "CSI: Crime Scene Investigation" is the nation's top TV show, with "CSI: Miami" and "Without A Trace" ranking among the top new shows " "Comedy Central is a perfect fit with our existing cable networks and strengthens and reinforces our already prominent role with younger demographics that are increasingly attractive to shareholders," said Mel Karmazin, president and chief operating officer of Viacom "There is no reason other than our sales organization" for the lower revenue, said Karmazin, adding "this is the single biggest issue for me that I am focusing on" and promising to immediately meet with the radio sales staff for $1 S 67 billion a year earlier, led by 14 percent sales growth in its Blockbuster video rental chain and 13 percent sales growth in its cable networks business " Viacom also owns VH1, TV Land, TNN, CMT, BET and the broadcast networks CBS and UPN In afternoon trading, Viacom's stock rose $2 " AOL Time Warner shares were up 23 cents, or 1 "To have revenue up 7 percent in a company this size, that's a big number," said Karmazin, in a conference call 4 million shares of its class B common stock for $142 million during the first quarter and still has $2 Operating income soared 25 percent to $149 million Viacom Profitable, Buying Comedy Central Apr 22, 1:18 PM EST Viacom Inc The only real disappointment was at Viacom's Infinity Broadcasting division, consisting of some 185 radio stations CBS has won 21 out of 29 weeks in the current ratings season The acquisition of AOL's half stake in Comedy Central is expected to be completed this quarter Analysts expect the New York-based company to post a yearly profit of $1 " Viacom saw revenue at its broadcast networks and 39 TV stations increase 4 percent to $1 43 a share on revenue of $26 CBS' "Survivor" franchise is also going strong this season 52 billion 7 billion set aside under its current share buyback program Excluding an accounting adjustment, Viacom earned 26 cents a share, beating by a penny a share the consensus forecast of analysts surveyed by Thomson First Call The media conglomerate reported record revenue of $6 Richard Parsons, chairman-elect and chief executive of struggling AOL Time Warner, said in a statement that the sale "demonstrates our commitment to the company's previously announced debt reduction goals "It was the company he was heading, and it's one that would have a special interest for him in terms of operating at peak levels , owner of MTV, Nickelodeon and Showtime, reinforced its powerful cable channel lineup with a deal to buy the rest of Comedy Central from AOL Time Warner Inc Ad revenue grew 6 percent "There was a general suspicion that this would be a logical transaction because AOL had expressed an interest in divesting certain divisions to raise cash to pay down its debt "Expanding our interest in cable networks, one of the fastest growing and most promising areas of the media industry, remains a priority for Viacom," said Sumner Redstone, the company's chairman and chief executive Viacom reaffirmed its growth targets for full-year 2003 23 billion Viacom's operating earnings hit a record $987 million, a 14 percent increase from the same quarter of 2002 03 billion, propelled by a 17 percent increase in advertising revenues 27 billion, according to Thomson First Call Sales were down 2 percent to $444 million 1 percent, to $42 " Viacom's cable networks division played a significant role in helping it post a net profit and record revenue in the first quarter 8 percent, to $13 Media analyst Goss noted that Karmazin came from radio and doubts he'll allow the division to falter The comedy film "How to Lose a Guy in 10 Days" and the book "The Laws of Money, The Lessons of Life" by financial whiz Suze Orman came out in the first quarter The media conglomerate's entertainment division, which includes Paramount Pictures and book publishing giant Simon & Schuster, had revenues of $798 million, up 3 percent from the prior first quarter 17 billion from $1 95 on the New York Stock Exchange New York-based Viacom already owns 50 percent of Comedy Central, which reaches 82 million U Viacom is very strong financially and clearly interested in adding to its cable channel assets, which have been very profitable 92 billion, with operating income up 13 percent to $243 million The company purchased about 3 Cable network revenues jumped to $1 Karmazin would not detail how much he expects the all-comedy channel to add to revenue but said "it conforms to the growth that we look for in acquisitions 08, or 5 Viacom's Blockbuster video rental chain had a 14 percent rise in revenues to $1 1 billion, or 63 cents a share Media analyst James Goss of Barrington Research in Chicago said the deal makes sense for both Viacom and AOL 13 in afternoon trading on the NYSE households and features programs such as "The Daily Show with Jon Stewart" and the animated "South Park The media giant also reported a profit for the first quarter archpediatrics Lea Sloan, a spokeswoman for PBS, whose shows includes "Sesame Street" and "Barney & Friends," agreed that children should not watch too much television Kids made lists of fun activities besides television, including reading; parents received stickers to reward their children for each TV-free day; and the schools held parties to celebrate surviving without television The 43 youngsters, ages 2 to 5, watched a weekly average of about 14 hours of television and videos before the study â€â€? at the upper limit set by the American Academy of Pediatrics, which advises no more than two hours daily But larger, longer studies are needed to determine whether reducing TV watching can help prevent weight problems, the researchers said But she said that some TV "can advance their curiosity and understanding" and that it should be up to parents to decide how much is too much com By the end of the study, they were watching less than 11 hours a week The findings were published in February's Archives of Pediatrics & Adolescent Medicine A comparison group of 34 children who did not undergo the sessions increased their TV viewing by more than an hour, to more than 13 hours a week â€â€?â€â€?â€â€? On the Net: Archives: http://www Barbara Dennison of the Bassett Healthcare Research Institute in Cooperstown, who led researchers Study Teaches Kids to Watch Less TV Feb 2, 4:00 PM EST Preschoolers put "No TV" signs on their television sets and got rewards for not watching in a study that reduced their viewing by almost a quarter Too much television can lead to weight gain and obesity The attempt to prevent kids from becoming couch potatoes involved seven 20-minute weekly sessions at 16 preschools in upstate New York near Cooperstown Other research has shown similar programs work in older children, but this study is significant because it demonstrates success at an early age before the TV habit becomes firmly entrenched, said Dr |
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