Earnings

Although 1Q rev at Viacom’s media nets rose 10% to $1.73bln and affil rev grew 14% to $558mln, pres/CEO Philippe Dauman admitted trouble on the domestic front. "We know we have ratings challenges at a few of our channels, such as MTV, BET, and Nick at Nite," said Dauman, who noted that much of the problem is "related to weakness associated with some older and acquired programming, which we are systematically replacing with new, compelling and engaging programs." Still, Dauman is bullish on the MTVN segment, especially with regard to ad sales following large-scale restructuring in recent months. Restructuring charges weighed down earnings, which fell 36%, but still beat Street estimates. A focus on targeting key demos across platforms and engendering more audience interactivity is slated to help with the turnaround. — Equal 20% surges in both 1Q ad rev and sub fee rev, to $46mln and $7.5mln, respectively, powered 19% growth in Crown Media’s overall rev to $53.6mln. Agreements representing two-thirds of Hallmark Channel’s sub base will expire on or prior to Dec 31, according to an SEC filing.