Viacom’s Sumner Redstone told shareholders there should be a decision by the end of June on whether to split into 2 companies. A separation could occur in the early part of ’06. The split would separate MTV, Paramount Pictures from CBS and Infinity Broadcasting. — Overbuilder Knology closed a previously announced $9.2mln convertible preferred private equity deal. It made an issue to new and certain existing shareholders, an aggregate of 920K shares of Series AA preferred stock at a purchase price of $10/share. Proceeds will pay down debt and be used for general expenses. — Fulcrum raised its ’05 earnings/share estimate for Disney to $1.30 from $1.24, and its ’06 estimate to $1.45 from $1.40. Fulcrum cited the ratings turnaround at ABC and the continued success of ESPN. — Viacom declared a quarterly cash dividend of 7 cents/share on Class A and Class B shares, payable July 1.

The Daily


‘Schitt’s Creek’ Wins Big

The series swept all seven comedy categories at the main Emmy ceremony Sunday, becoming the first show to win all four main acting awards in a year, and became the most awarded comedy in a single year.

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