Cable nets and a larger-than-expected share buyback plan were the stars of Viacom’s earnings. Cable revenue rose 14% to $1.7bln, driven by strong ad sales. Overall, the company posted a net loss of $487.6mln, compared with a year-ago profit of $699.6mln. Chalk up the loss to a $1.5bln charge related to Blockbuster. Total revenue grew 4%, to $5.5bln. Wall St welcomed news of the planned $8bln buyback.

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Wednesday–December 11

Cruz Addresses Foreign Cyber Threats After ‘Salt Typhoon’

After a U.S. official confirmed at least eight U.S. telecommunications providers were breached as part of a foreign hacking campaign, Sen. Ted Cruz (R-TX) called for more focus on defending state-sponsored

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