Cable Nets Propel Viacom, Which Sees Ad 'Bottom'.(Viacom Inc. reports second quarter 2001 growth)(Brief Article)(Statistical Data Included)
Multichannel News, July, 2001 by FARRELL, MIKE
Viacom Inc.'s cable networks helped to drive 18-percent revenue growth and 12-percent cash-flow growth in the second quarter, even as soft ad sales affected its radio and broadcast-television properties. In the second quarter, Viacom reported revenue of $5.7 billion and cash flow of $1.36 billion.
It also reported net earnings of $17 million, or 1 cent per share, up from a loss of $496 million, or 41 cents per share, a year earlier. At broadcast-TV network CBS, revenue was down 1 percent, to $1.6 billion, while cash flow rose 16 percent, to $360.8 million. At the Infinity Broadcasting Corp. radio properties, revenue was down 4 percent and cash flow dropped 5 percent. At the cable networks -- including MTV: Music Television, TNN: The National...
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