Sumner Redstone is being sued by a former girlfriend, who says he lacks the mental capacity to remove her as his representative. If the case is found to have merit, there could be serious shareholder blowback, reports CNBC's Julia Boorstin.» Read More
I'm a movie junkie and I'm so happy the summer movie season is underway. You'll probably find me at a theater every weekend between now and the end of July--when the movie premiers finally slow down.
Comic book adventure "Iron Man" proved its mettle at the North America box office, kicking off the summer movie season with estimated weekend ticket sales of $100.75 million and marking an unlikely commercial rebound for its star, Robert Downey Jr.
The summer movie season kicked off Friday with “Iron Man.” Does the lack of sequels suggest trouble lies ahead?
Media giant Viacom spacer beat Wall Street expectations with strong profits driven by its cable networks (including MTV) and its "Rock Band" video game franchise. Net income grew 33 percent over last year's quarter (excluding an investment write down) to $270 million, while revenue was up 15 percent in the period to 3.12 billion.
Viacom said Friday quarterly net profit rose 33 percent, beating Wall Street forecasts, on strong sales of "Rock Band" video game and higher advertising revenue at MTV Networks.
April's jobs report could actually bring in more May buyers. The report is expected to show a loss of 75,000 non-farm payrolls or more last month. But Thursday's frisky market action could carry through if the report does not show up worse than expected.
Hollywood studios are counting on actor Robert Downey Jr. and his big-screen incarnation as "Iron Man" to blast them out of a box office slump as the lucrative summer movie season opens this weekend.
Defense giants Boeing and Northrop Grumman keep going at it over the Air Force tanker deal. This as the clock ticks down on a Government Accounting Office investigation into whether the current decision should stand.
CBS stock has been beaten down over the past year--down some 30 percent. But today the stock is up on the company's better than expected quarterly results. And good news for shareholders, CBS spacer raised its quarterly dividend from 25 cents per share to 27 cents per share.
While Walt Disney plays damage control over the near-topless photos of Miley Cyrus, the hugely popular teen star of its lucrative "Hannah Montana" multi-media franchise, most analysts say the event is more likely to boost the bottom line than hurt it.
Ratings could be better, so could the economy and advertising spending. What is CBS doing to halt the tumble in it stock price? Stay tuned.
You may think it's all about the Fed in the week ahead, but other key economic news will keep the markets on edge. Data to watch includes first quarter GDP Wednesday; Friday's jobs report for April; another big rush of corporate earnings reports, including from big oil and media companies. Other economic data: consumer confidence for April, released Tuesday, and the S&P Case Shiller report on housing prices.
Earnings season turns the spotlight on Time Warner, Viacom and other big media names next week. How should you trade it?
The Dow pulled back Monday after a weaker-than-expected profit report from Bank of America stirred concerns about the health of corporate earnings. What's the "Word on The Street?"
Paramount said it would join forces with two other studios, MGM and Lionsgate, to introduce a premium channel and video-on-demand service beginning in the fall of 2009
Ever since media mogul Sumner Redstone split Viacom and CBS into two separate companies (he's chairman of both), they've become increasingly competitive. And just this Sunday, Viacom's Paramount Pictures studio said it's no longer going to distribute movies to CBS' Showtime.
Media companies are floundering as investors fear recession and, more importantly, the unknown implications of the digital age. Are there buying opportunities amid the rubble?
NBC Universal's first-quarter performance fell far short of parent General Electric's expectations, again raising questions over whether the broadcast network belongs within the industrial conglomerate.
Today, Adobe unveiled its new media player with the idea of tapping into the market for online video that's been growing by double digits year-over-year. The key to this new player? It works online and offline, and it's based on Adobe's new "Air" technology that works with any platform, Mac or PC.
George Clooney's "Leatherheads" failed to make a touchdown at the weekend box office, losing the top spot to reigning champ "21." The estimated score: Leatherheads--$13.5 million, 21--$15.1 million.