Financials: Viacom TV operating profit soared to $310 million in...
Financials: Viacom TV operating profit soared to $310 million in 4th quarter ended Dec. 31 from $86.1 million year ago. Revenue from CBS, UPN, TV stations group and TV syndication reached $1.9 billion from $669.1 million because of acquisitions.…
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In addition, Infinity Bcstg. added $490 million operating profit and $1.1 billion revenue for quarter. Cable network operating profit was $475.5 million, up from $347.2 million, and revenue $1.2 billion from $925 million. Overall, company had $30.4 million net profit, down from $133.1 million year earlier, in part because of increases in interest cost and income tax. Although TV revenue was up, it was down 4% on pro forma basis, with gains all attributed to acquisitions. Viacom did cite improvements at CBS. At cable, MTV revenue rose because of higher subscriber fees and double-digital ad increase, as Showtime also gained… Clear Channel loss deepened to $192 million in 4th quarter ended Dec. 31 from $22.8 million loss year ago. Revenue grew to $2.2 billion from $986 million because of acquisitions, but interest expense jumped $100 million to $152.3 million. Cash flow was $684 million, up from $353 million in year… Cablevision Systems had net income of $557 million on higher net revenue of $1.25 billion in 4th quarter, thanks to sale of many of its cable systems outside N.Y.C. area. Cablevision said it earned nearly $1.1 billion on cable asset sales in quarter, up from zero in year-ago period. On pro forma basis, MSO said its net revenue climbed 10% to $1.2 billion and its adjusted operating cash flow 13% to $235.4 million as its cable operations, commercial telephony division and Rainbow Media Holdings unit all posted healthy gains.