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Aishwarya Venugopal Business Comedy Central MTV U.S. 

Viacom sees weak affiliate sales, shares plummet

August 3, 2017 By Jessica Toonkel and Aishwarya Venugopal (Reuters) – Viacom Inc, the owner of MTV, Comedy Central and Paramount Pictures, forecast a low single-digit dip in sales to U.S. pay-TV companies and streaming video services this quarter, sending its stock down almost 8 percent after hours. The media company beat Wall Street’s average estimates for fiscal third-quarter revenue and profit, helped by an unexpectedly strong 4 percent jump in such affiliate sales, but investors focused on the downbeat projection for the current quarter. “As good as the affiliate…

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Film business, higher affiliate fees lift Viacom’s revenue

May 4, 2017 (Reuters) – Viacom Inc , the owner of MTV, Comedy Central and Nickelodeon, reported a quarterly revenue that handily beat estimates, helped by growth in its filmed entertainment unit as well as higher affiliate revenue. The company’s shares were slightly higher at $39.48 in choppy trading before the bell on Thursday. Revenue from Viacom’s filmed entertainment business, which houses the Paramount film studio, jumped 37 percent to $895 million in the company’s second quarter ended March 31, breezing past analysts’ average estimate of $676.5 million, according to…

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