(Feb 9): Viacom Inc, the owner of MTV, Comedy Central and Nickelodeon, presented a plan on Thursday to turn around its business, focusing on six of its brands amid a continued decline in US ad sales. Viacom will reorganize other brands to support those six. The former head of Viacom's international business took over as permanent CEO in December after the Redstone family stopped exploring a merger of Viacom and CBS. However, net income attributable to Viacom fell to US$396 million, or US$1 per share, from US$449 million, or US$1.13 per share, a year earlier. Analysts had expected US$3.18 billion.

Source: The Edge Markets February 09, 2017 14:26 UTC