Viacom posted higher earnings in the third quarter, boosted by the sale of its share of Epix. Earnings rose to $683 million, from $432 million (€581m) a year ago. The results include a $285 million gain on the sale of Epix. Adjusted net earnings were up 12 per cent. Revenue rose 8 per cent to $3.364 billion.
Adjusted operating income for Viacom’s Media Networks group, including MTV, Nickelodeon and Comedy Central, was flat at $870 million in the quarter.
Media Networks revenues grew 2 per cent to $2.56 billion. Affiliate revenues were up 4% to $1.19 billion. Domestic affiliate revenues were up 4 per cent to $1.01 billion, reflecting higher revenue from SVoD and other OTT agreements. Advertising revenues rose 2 per cent to $1.24 billion.