Viacom’s [VIA] 14% 2Q earnings growth was largely attributable to the strength of its cable nets. Cable net revenue rose 18% to $1.58bln during the Q, while operating income grew 23% to $608mln. Broadcast also performed well for Viacom, with revenue growing 11% and operating income rise 35%. The company intends to aggressively repurchase shares once its spinoff of Blockbuster is complete. — Viacom chmn/CEO Sumner Redstone’s salary for ’04 was raised to $3.5mln from $1mln last year, according to an SEC filing. New co-presidents Tom Freston and Les Moonves each will receive a $3mln base salary vs the $1mln salary Mel Karmazin received in ’03 (Don’t worry, he got a $35mln severance package). Freston and Moonves also are eligible for a bonus of up to $10mln/year.

The Daily

Subscribe
Tuesday–March 18

Steps Forward: Industry Offers AI Policy Recommendations

Comments were due to the Office of Science and Technology Policy on what should be included in an AI Action Plan.

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

Calendar

Apr 16
Cablefax 100 Awards CFX100 2025 List to be published 4/16/25
May 7
2025 Faxies Awards Faxies Nominations Open! Final deadline: 3/14/25
Full Calendar

Jobs

Seeking an INDUSTRY JOB or hiring for one?
VIEW JOBS

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 Carley Ashley, [email protected], for more information about posting a job on the website and our Jobs newsletter, sent twice weekly to 85,000 media professionals.