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May31
Viacom Plunges to Yearly Low on Advertising Worries

Viacom Inc. (NYSE:VIA-B) dropped to its lowest stock price in 52 weeks, as CEO Philippe Dauman announced this week that advertising growth in the second quarter will be down more than expected.

On the domestic side, Dauman said ad sales will grow in the 3 to 4 percent range, similar to last year's performance in the same quarter. The company took a hit on its stock because the original assessment was growth in the 7 percent area, much like they enjoyed in the first quarter.

This of course isn't unexpected, as the major advertising categories like automotive and banking have cut down on their spending as the economy continues to be sluggish.

viacom%20CEO%20Philippe%20Dauman%20says%20ad%20spending%20down%20in%20second%20quarter.gif

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May30
Angelina Jolie Gives Birth to Twins in France - Maybe
May29
Former 'Carol Burnett' Comic Harvey Korman Dies at 81
Bill Murray's Divorce Not Going to be Nice
May28
Country Music Star Chris Cagle Arrested Again, this time for Domestic Assault
May27
ABC, NBC, CBS in Joint Effort to "Stand Up To Cancer"
May25
Harrison Ford and Indiana Jones Score Big at Box Office, Finish over $100 Million
May24
Russia's Communist Party in Snit over "Indiana Jones and the Kingdom of the Crystal Skull"
May23
Fox Wins Key Demo and Overall Audience Ratings in Prime-Time Race
May22
Daughter of Gospel Singing Star Steven Curtis Chapman Dies in Car Accident
May21
Jim Cramer: "I Hate Media Stocks"
May20
Will New Netflix TV Box Make a Difference in the Entertainment Industry?
May19
Time Warner's Chairman Richard Parsons Probably Stepping Down at End of 2008
May18
The Chronicles of Narnia: Prince Caspian Leads Weekend Box Office with $56.6 Millon
May17
Is Rupert Murdoch Good for the Newspaper and Entertainment Business?
May16
Families want Pornographic Films out of Marriot International
May15
David Cook or David Archuleta will be American Idol Winner this Year
May14
Prince Caspian Tracking Strong as Narnia Sequel Nears Launch
Kelsey Grammer and "Back to You" Dropped by Fox
May13
Remy Ma Gets Eight-Year Jail Sentence
Sue Simmons Freaks Out When Footage Over Her Voice is Wrong
May12
Pressure, Ego, Fantasy, and the Cablevision Acquisition of Newsday
May11
Gospel Singer/Songwriter Dottie Rambo Dies in Tour Bus Crash
"Iron Man" Tops Box Office for Second Straight Weekend
May10
Actor who Played Young "Forrest Gump" Leaving Army, Returning to Acting
May 9
The "Duggars" Adding Child Number 18 to the Family
"Heroes" Adds New Speedster to Cast, Played by Brea Grant
May 8
San Francisco Talk Radio Host Bernie Ward Offers Guilty Plea to Child Porn Charge
Harvey Weinstein Denies Threatening to Cut Off Donations to Democrats
Music Legend Eddy Arnold Dies at 89
May 7
News Corp. Triples Profits, Confirms 15 Percent Profit Growth for Fiscal 2008
Former Weather Channel Anchorwoman Hillary Andrews wins Sexual Harrassment Claim
May 6
Walt Disney Co. Profits Surge by 22 Percent in 2nd Quarter
Hollywood studios, Screen Actors Guild Break Off Negotiations
Christina Ricci Says She wants to Dedicate Career to Making Family Films
May 5
Marvel Entertainment Inc. Increases Profit Guidance for 2008
May 4
Iron Man Officially Opens Summer Blockbuster Box Office: Brings in $104.25 Million
May 3
Reminder: Kentucky Derby Post Time is 6:04 PM EST
May 2
"Fox News" the Emerging Star of the Democratic Party?
Indianapolis Colts Marvin Harrison Under Investigation for Philadelphia Shooting
Viacom Beats Wall Street Estimates, No Advertising Slowdown
Media Layoffs Far Above National Average
May 1
Deborah Jeane Palfrey - DC Madam - Commits Suicide

« April 2008 | Main | June 2008 »

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