VIACOM TO MAKE 'SMALL ACQUISITIONS' OF ONLINE COMPANIES

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VIACOM TO MAKE 'SMALL ACQUISITIONS' OF ONLINE COMPANIES
Wednesday, September 20 2006

Viacom CEO Philippe Dauman told an investors conference in New York Tuesday that the company will probably make small acquisitions to boost its online business. Dauman, who took over the reins of the company earlier this month after former CEO Tom Freston was fired, said that Viacom would probably not spend more than $100 million on a single acquisition and probably limit its deals to a few million dollars. In the past, Viacom has been criticized for not moving aggressively enough into Internet enterprises. Dauman also indicated that he was looking to expand the black-oriented BET channel by releasing a series of BET movies via Paramount, much as the company currently releases MTV Networks movies through the film studio.

REDSTONE DECIDED TO DUMP FRESTON FIRST, THEN CRUISE
Wednesday, September 6 2006

Sumner Redstone had already decided to fire Viacom CEO Tom Freston a week before he got rid of Tom Cruise, according to reports that came to light Tuesday. Philippe Dauman, who was selected to replace Freston, told today's (Wednesday) Daily Variety that he received an offer from Redstone three weeks ago. (Only a few weeks earlier, Redstone had told the Wall Street Journal that "he could imagine 'no circumstance' under which he would dismiss Mr. (more)

VIACOM STOCK JUMPS ON STRONG MOVIE EARNINGS
Thursday, August 10 2006

Investors appeared more generous to Viacom than they were toward Disney Wednesday and today. While Disney, which reported a 39-percent rise in net income in its third quarter, saw its shares fall slightly, Viacom's stock was up about 6 percent as of mid-day today (Thursday) after it reported a 23-percent gain in its second quarter. The company's entertainment unit, which includes Paramount, posted a profit of $6.4 million after reporting a loss of $23 million (more)