Viacom [VIA] expects to divest its 81% interest in Blockbuster [BBI] in a tax-free spin-off shortly. It had been planning to sell the video rental chain. The Viacom cable nets saw revenue rise 24% in 4Q to $1.66bln, while operating income rose 19% to $635mln.

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Verizon, NYC Reach Settlement

Verizon has an agreement with New York City that settles proceedings against it after the city claimed it had failed to meet buildout terms for its Fios network under its cable franchise agreement.

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