Viacom 4Q Profit Down 69%

Viacom Inc. (VIA-B) reported its fourth-quarter profit fell 69 percent as the recession impacted growth and as it recorded $454 million in restructuring and other charges. The company earned $173 million, or 28 cents per share, compared with $559.5 million, or 86 cents per share, in the year-ago quarter.

Revenue from the company's media networks, like MTV and Nickelodeon, rose 1 percent to $2.48 billion. Global ad revenue for the networks fell 3 percent to $1.35 billion, while cable and satellite affiliate revenue rose 12 percent to $667 million. Ancillary revenue was flat at $462 million.

by Mark Anderson | 02/12/09 | Stocks: VIA-B,

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Viacom 4Q Profit Down 69%

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