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Viacom Earnings Hurt By Nickelodeon Issues (B&C)
Lower ratings at networks including Nickelodeon contributed to lower earnings for Viacom's first fiscal quarter. Multichannel News: Overall revenue was up 3 percent in the period to $3.95 billion, and operating income was down 2 percent to $1.01 billion. Net income was down 5 percent to $591 million in the period ended Dec. 31, but earnings per share were up 4 percent to $1.06. AllThingsD: Viacom, which has seen ratings decline at its Nickelodeon cable channel, doesn't think it is losing eyeballs to Netflix, which offers an array of kids' programming, including Nickelodeon shows like Dora the Explorer. TheWrap.com: Viacom profit plunged 65 percent to $212 million in the latest quarter due to a charge related to the sale of Harmonix, the company that makes the "Rock Band" video game.
NYT Co. Sees Drop In Earnings But 20 Percent Rise In Digital Subs (paidContent)
Higher online circulation was a small bright spot in an otherwise gloomy earnings report for The New York Times Co., which is still looking for a CEO who can implement a comprehensive digital strategy. Business Insider / Silicon Alley Insider: The New York Times Co. reported its fourth-quarter earnings Thursday, and it lost $39.7 million in 2011, or 27 cents per share, after making $107.7 million in 2010. Q4 profit is down 12.2 percent year-over-year thanks to the continuing decline of print advertising and a 67.4 percent decline in the About Group's operating profit, which also saw a 25.7 percent decrease in quarterly ad revenues year-over-year. Boston Globe: The New York Times Co. said it has agreed to sell one-third of its remaining stake in the group that owns the Boston Red Sox for $30 million. AllThingsD: The New York Times Co. ended 2011 with 390,000 digital subscribers, up about 20 percent from its third-quarter total. Some of the new subscriptions came from the publisher's International Herald Tribune, which started digital sales last fall.
Kia Unveils Its Kick-Ass, Rock 'N' Roll Super Bowl Fantasy (AdAge / Super Bowl)
Kia Thursday morning unveiled its Super Bowl spots from David & Goliath, Los Angeles.