The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Viacom announced another film production deal with Netflix through its Nickelodeon kids division, fleshing out a strategy to produce more shows and movies for others as streaming video giants battle for viewers.
Nickelodeon will produce the films "The Loud House" and "Rise of the Teenage Mutant Ninja Turtles," which are based on its hit television franchises. The company hopes those films on other platforms will send viewers back to Viacom-owned networks.
The announcement, made on a morning conference call with Wall Street analysts, underscored the significance of its multi-pronged strategy, as it delivered a quarter when ticket sales of "Transformers" reboot "Bumblebee" helped it beat profit estimates but revenue fell slightly short of expectations on weaker ad sales at its cable networks.
As Netflix and other existing and upcoming streaming service providers from Walt Disney and AT&T's WarnerMedia will shake up the traditional U.S. cable industry, Viacom and sister company CBS are redoubling efforts to become original content resources for other distributors.
Both companies, controlled by National Amusements, are expected to rekindle merger talks in the coming months.
The latest production deal follows an earlier multi-picture deal with Netflix.
Viacom also played up its $340-million purchase of Pluto TV and said it had high hopes to build an international advertising-supported streaming TV service that will include programming from its archive. It will launch a Spanish-language version this year, Viacom chief executive Bob Bakish said.
"It will be the next step in the evolution of this company," Bakish told analysts.
Net income attributable to Viacom fell to $321 million, or 80 cents per share, in the first quarter ended Dec. 31 from $537 million, or $1.33 per share, a year earlier.
Revenue for the year-end quarter was $3.09 billion, below estimates of $3.12 billion, according to IBES data from Refinitiv.
That reflected lower advertising revenue and a hit from currency swings at a time when the company is fighting for its place in a hugely competitive and changing U.S. media landscape.
Domestic affiliate revenue, or the fees collected from U.S. cable and satellite operators and online distributors, rose 5 percent to $969 million. Analysts expected a 2.4 percent rise, according to research firm FactSet.
The company, which owns MTV, Comedy Central and Nickelodeon, said total affiliate revenue rose 3 percent to $1.17 billion, beating estimates of $1.11 billion, according to IBES data from Refinitiv.
Revenue from filmed entertainment division, which includes Paramount Pictures, rose 14 percent to $621 million.
Since taking charge in 2016, Chief Executive Officer Bob Bakish has focused on Paramount and the company's cable TV business.
Excluding items, the company earned $1.12 per share, above the average estimate of $1.03 per share.
Viacom said it expected full year revenue growth in the mid-single digits on a constant currency basis. It also expects advertising growth in 2019.