Tuesday, July 28, 2009

Today's Fly Or Die Commerce Report

The entertainment conglomerate, Viacom has control over a bevy of entertainment and media companies. Their holdings include:BET, Comedy Central, MTV, Nickelodeon, Paramount Pictures and the videogame "Rockband."

According to The Wall Street Journal, Viacom Inc. has posted a 32% fall in their second quarter profits. Although the corporation is still seeing loses in add revenue. The loss is a 3% improvement from the first quarter's as revenues. The company's stock is still doing reasonably well on the New York Stock Exchange despite a decline of viewers on its MTV station, and a decline of sales of their Rockband music videogame.

The Wall Street Journal states that Viacom's Chief Financial Officer has stated that the company's margins will dramatically increase later this year when they factor in profits from the summer blockbusters: Star Trek and Transformers 2.

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