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

Subscribe
Tuesday–March 2

Scripps Adding Two More Networks

Scripps will launch two free national television networks on July 1. Doozy will serve W25-54 and feature off-network shows like “Storage Wars” and “Married at First Sight.” Defy TV

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Jobs

Seeking an INDUSTRY JOB? VIEW JOBS

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact John@cynopsis.com for more information.