Pali initiated Viacom with a "Buy" and $50.50 price target; it issues 4Q earnings today. Pali believes Viacom’s value is enhanced by the expanding number of distribution outlets (RBOC’s fiber, mobile phone video, etc). — S&P will keep Time Warner’s "BBB+" long-term corporate and sr debt ratings on CreditWatch following its deal with Carl Icahn. It views TW’s plans to repurchase $20bln of common stock by the end of ’07 as leaving less capacity for acquisitions and unanticipated changes in the economy. — Gemstar’s board approved a 7.3% salary increase for CEO and acting CFO Rich Battista last week, putting his salary at $912,050, according to an SEC filing.

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Tuesday–September 16

News FAST: Free Channels Rising as Cordless News Destination

Cable news networks saw ratings boosts last week as major breaking news events continued to command viewer attention for days after they broke, but FAST channel in the news space were also a popular destination.

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