Viacom, Inc. (VIAB) is an American global mass media company with interests primarily in cinema and cable television. It is currently the world's sixth largest broadcasting and cable company in terms of revenue (behind Comcast, The Walt Disney Company, Time Warner, Twenty-First Century Fox, Inc., and CBS Corporation, respectively). Voting control of Viacom is held by National Amusements, Inc., a privately owned theater company controlled by billionaire Sumner Redstone. Redstone also holds, via National Amusements, a controlling stake in CBS Corporation. The current Viacom was created on December 31, 2005, as a spin-off from CBS Corporation, which changed its name from Viacom to CBS at the same time. CBS, not Viacom, retains control of the over-the-air broadcasting, TV production, outdoor advertising, subscription pay television (Showtime) and publishing assets (Simon & Schuster) previously owned by the pre-split company. Predecessor firms of Viacom include Gulf+Western, which later became Paramount Communications Inc., and Westinghouse Electric Corporation. Comprising BET Networks, Viacom Media Networks, and Paramount Pictures, Viacom operates approximately 170 networks reaching approximately 700 million subscribers in 160 countries.
Viacom CEO, board members could be replaced Shares of Viacom Inc. rose more than 3% Friday after CNBC reported that some Viacom board members believe they and CEO Philippe Dauman could be replaced as early as Friday by former chairman and controlling shareholder Sumner Redstone. The stock was up $1.46 in early afternoon trading to $43.99. Read full article here: http://www.msn.com/en-us/money/comp...eo-board-members-could-be-replaced/ar-BBtyHbw
Analyst Upgrade/Downgrade Update Brokerage firm: Wedbush Change: Upgrade Previous Rating: Neutral Current Rating: Outperform Previous Price Target: N/A Current Price Target: $46
Analyst Upgrade/Downgrade Update Brokerage firm: Wunderlich Change: Coverage Reiterated/Price Target Changed Previous Rating: N/A Current Rating: Buy Previous Price Target: $65 Current Price Target: $56
Analyst Upgrade/Downgrade Update Brokerage firm: Brean Capital Change: Downgrade Previous Rating: Buy Current Rating: Hold Previous Price Target: N/A Current Price Target: N/A
Analyst Upgrade/Downgrade Update Brokerage firm: FBR & Co Change: Downgrade Previous Rating: Outperform Current Rating: Market Perform Previous Price Target: $56 Current Price Target: $44
Turnaround underway, viewership soared in August +31%, new streaming service in coming weeks, Forward PE 7.06, 3% Div. Yield, cash cow
