Viacom Shares Gain As Mission Impossible Powers Paramount

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Viacom Shares Gain As Mission Impossible Powers Paramount

– Viacom Inc (VIAB.O) reported quarterly revenue below Wall Street estimates on Thursday, as domestic advertising sales fell and the media company collected lower fees from cable TV operators and online distributors.

The company said worldwide affiliate revenue fell 3 percent to $1.15 billion, missing estimates of $1.16 billion, according to research and data analytics firm Factset.

Viacom, the owner of MTV, Comedy Central and Paramount Pictures, said domestic advertising revenue fell 3 percent to $922 million.

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