Viacom’s stock has been dragged down in recent months by lower advertising results and softening ratings at its suite of cable channels. To that end, the quarterly results were disappointing. Domestic advertising revenues declined 7% while worldwide advertising revenues decreased 1%. Overall revenues in the unit grew 5% to $2.79 billion, which the company attributed to a 15% increase in domestic affiliate fees and a 10% rise internationally in rates.
Source: Viacom Earnings Fall on Advertising Drop, Weaker Film Slate | Variety