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VIACOM, the owner of MTV and Nickelodeon, said last week that its fourth-quarter profit slumped 67% to just under $130m following losses at its Paramount Pictures division. They were the first results since the company split the CBS television and radio networks from the rest of the business.
MTV Networks contributes two-thirds of Viacom's sales, and while that division experienced gains, cinema flops such as Elizabethtown and Aeon Flux offset any growth.
Paramount had a loss of almost $94m on sales of $788m. The unit was forecast to have a loss of $19.3m on sales of $815m.
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YOU ARE HERE: 19 March 2007 / tribune.ie / 2006 / 02 / 26
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