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Beam up more box-office bucks, Scotty!

Posted May 11th 2009 9:00AM by Steven Mallas (RSS feed)
Filed under: Time Warner (TWX), Viacom (VIA), News Corp'B' (NWS), Film, Marvel Entertainment (MVL)

Viacom (NYSE: VIA) came out on top this past weekend with its new Star Trek film. According to early estimates from Boxofficemojo, the picture made roughly $72 million over the three-day period at domestic theaters.

If you include some early screenings, the total is closer to $76 million. Trek beat out such projects as Marvel's (NYSE: MVL) and News Corp.'s (NASDAQ: NWS) X-Men Origins: Wolverine, which came in second place, and Time Warner's (NYSE: TWX) Ghosts of Girlfriends Past, which took spot number three.

Continue reading Beam up more box-office bucks, Scotty!

Viacom not so cool in Q1

Posted May 1st 2009 9:00AM by Steven Mallas (RSS feed)
Filed under: Earnings reports, General Electric (GE), Time Warner (TWX), Walt Disney (DIS), Viacom (VIA), CBS Corp 'B' (CBS), News Corp'B' (NWS), Media World, Film

If Viacom's (NYSE: VIA) first-quarter earnings were a sweeps program, it probably wouldn't achieve a high rating. That's because the plot of the press release's narrative centered on one depressing theme: decline.

Let's begin at the top. Sales decreased 8% (you're about to switch the channel already, I know). Operating income was down by 22%. And adjusted income decreased 34%. Income at the media division was down 9%, and the loss in the film department nearly doubled!

But, hey, profits beat estimates, at least. According to Bloomberg, Viacom was only supposed to do around 25 cents per share. In fact, shares of Viacom rallied over 5% in the after-hours session Thursday on the news.

Continue reading Viacom not so cool in Q1

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Last updated: November 26, 2009: 10:04 PM

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Beam up more box-office bucks, Scotty!