Viacom is off to a strong start in 2000, paced by the continued outstanding performance of MTV Network, which turned in its fifth consecutive quarter of 20 percent-plus ad sales growth, and Showtime, which registered a 25 percent gain in (cash flow) for the first three months of the year.
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The quarter was fuelled by double-digit ad sales growth across the board, spurred by such ratings triumphs as CBS's 'Survivor,' which generated significant prime-time audience gains at CBS, and MTV's 'Video Music Awards,' this year's highest-rated cable entertainment program,Sumner Redstone
Viacom's fourth-quarter performance is indicative of a new vitality at the company and the major strides we have made in 1997.
Sumner Redstone
The Chinese government is more skeptical about American media companies, but I have been going to China for eight years and I don't think it will affect Viacom. In China, it is always two steps forward and one step back.
Sumner Redstone
Look at the assets we bring together, ... We bring together a great studio and the most powerful cable networks in the world. We add that to CBS network, CBS' wonderful television station, CBS Radio, CBS Outdoor Advertising and soon we're adding (syndication company) King World to it. There's no company in the world that has that mix of assets. This will be the fastest-growing media company in the world.
Sumner Redstone
Consolidation was a necessary and positive trend in the evolution of these businesses. But we have entered a new era of rapid technological change and global competition. Bulk will not ensure success.
Sumner Redstone
The significant strengths of new Viacom to deliver consistent double-digit, bottom-line growth and the proven cash generation ability of CBS Corp. will underpin their performance and define their attractiveness to investors.
Sumner Redstone
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