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BUSINESS
December 20, 2007 | Joseph Menn, Times Staff Writer
Microsoft Corp. won the right to deliver advertising on Viacom Inc.'s network of websites for the next five years Wednesday, the latest in a series of deals demonstrating the software titan's willingness to spend heavily to establish itself as a major player in online ads. The alliance announced Wednesday gave Microsoft a big partner in trying to catch up to Google Inc., the top broker of Internet advertising. Microsoft will displace DoubleClick Inc. in showing ads to Web surfers visiting MTV.
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BUSINESS
October 18, 2007 | Thomas S. Mulligan, Times Staff Writer
Media giant Viacom Inc. is suing YouTube Inc., but it's also taking lessons from the online video service. In the ongoing quest to make Internet popularity pay, Viacom's Comedy Central channel today will unveil a website for "The Daily Show With Jon Stewart" that's designed to satisfy the most avid fans of the mock-news show with oceans of free video clips.
ENTERTAINMENT
August 15, 2007 | From the Associated Press
Media conglomerate Viacom Inc., which owns BET and MTV, announced a donation Tuesday valued at $1.5 million to help build a memorial to Martin Luther King Jr. on the National Mall in Washington. Viacom pledged $1 million in cash plus promotions for the memorial that will include public service announcements across the company's networks and its billboards in New York's Times Square, Chief Executive Philippe Dauman said.
BUSINESS
August 3, 2007 | From Reuters
Viacom Inc. posted a bigger-than-expected quarterly profit Thursday, boosted by DVD sales and the box-office hit "Shrek the Third," sending shares up 4%. Executives at the New York-based owner of MTV Networks, Paramount movie studios and the Nickelodeon cable channels also expected U.S. cable network advertising to improve in the third quarter, from a 4% gain in the second quarter. Viacom's second-quarter profit fell less than 1% to $434 million from $437.3 million a year earlier.
BUSINESS
July 21, 2007 | Claudia Eller and Michael A. Hiltzik, Times Staff Writers
The conflict between media mogul Sumner Redstone and his daughter, Shari, broke into open warfare Friday when he publicly disparaged her as having made "little or no contribution" to the entertainment empire he built, which includes Viacom Inc. and CBS Corp. Redstone's comments, in a letter to Forbes magazine, and a subsequent statement issued on behalf of his daughter provide new insights into the mounting family feud over control of the media empire.
BUSINESS
July 20, 2007 | From Times Wire Services
Viacom Inc.'s BET Networks named Scott Mills president and chief operating officer. Mills, who joined BET in 1997, most recently served as chief financial officer and head of digital media. Michael Pickrum was named to replace him as CFO and Denmark West will become head of digital media, according to a company statement. The network is pushing for growth in its digital businesses, including websites and the sale of shows over mobile devices. Mills helped create BET Mobile.
BUSINESS
July 14, 2007 | From Times Wire Services
Google Inc. Chief Executive Eric Schmidt says he plans to aggressively fight a $1-billion lawsuit from entertainment company Viacom Inc., saying the technology company has been obeying the law with its YouTube video-sharing service. Viacom has claimed that YouTube is a massive center of copyright infringement because it allows users to upload video clips from Viacom properties such as Comedy Central and Nickelodeon.
BUSINESS
May 11, 2007 | From Times Wires Services
Viacom Inc.'s earnings fell 36% in the first quarter, weighed down by higher marketing expenses for movies and a restructuring charge at its MTV group, the media company reported Thursday, but the results still beat analysts' estimates. New York-based Viacom, which is controlled by media mogul Sumner Redstone and split off from CBS Corp. a year ago, earned $202.9 million, or 29 cents a share, in the three months ended March 31, down from $317.2 million, or 43 cents, a year earlier.
BUSINESS
April 11, 2007 | Thomas S. Mulligan, Times Staff Writer
Viacom Inc.'s advertising deal with Yahoo Inc. on Tuesday showed that Google Inc.'s legal battles with media giants might be opening doors for its competitors. Viacom hired Yahoo to plaster its websites with the types of text ads that Google perfected. Analysts say that Yahoo, the No. 2 provider of search-engine ads, probably benefited from Viacom's legal battle over pirated TV shows and movies appearing on Google's YouTube service.
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