Paramount films fuel Viacom
Hollywood Newsroom is now Buzz Newsroom! Visit and bookmark our new site. Buzz is bigger and better, including sports, world news, gadgets and the entertainment news that you're used to. Same staff, just more stuff! Why Fark, Drudge and Huffington when you can Buzz!?From Variety:
Paramount’s triple play — Indy, “Iron Man” and “Kung Fu Panda” — punched up revenue at parent Viacom by 21% to $3.9 billion last quarter, providing welcome relief as slower advertising growth continues to rattle cable networks and punish media stocks.
“The media industry is not immune (to a slowing economy). I understand the frustration of shareholders who have seen share prices fall victim to the economy,” chairman Sumner Redstone said in an I-share-your-pain pep talk during a conference call. “There is opportunity even in difficult times for companies that have strong and enduring assets.”