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Viacom Reports Third Quarter Financial Results

Viacom Inc. on Tuesday reported results for its third quarter ended September 30, 2005. Revenues increased 10% to $5.9 billion from $5.4 billion for the same quarter last year, led by growth of 15% in Cable Networks and 54% in Entertainment, as well as increases in Outdoor and Radio. Net earnings per diluted share from […]

Steve Case Resigns From Time Warner Inc. Board

Steve Case, co-founder of America Online and former Chairman of Time Warner Inc.’s Board of Directors, has resigned from his position as a Time Warner director. Mr. Case issued the following statement regarding his departure: The decision to leave the Board is a difficult one, because Time Warner is a great company, and I respect […]

Time Warner Declares Regular Quarterly Dividend

Time Warner’s Board of Directors yesterday declared a regular quarterly dividend of $0.05 per share on its common stock, payable in cash on December 15, 2005 to stockholders of record at the close of business on November 30, 2005. This is the second quarterly dividend declared under the company’s dividend policy, which was announced at […]

"Time Warner Highlights" Released

Just ahead of Time Warner’s announcement of their quarterly financial results, the company has released a Time Warner Highlights edition. The document highlights accomplishments of Time Warner’s businesses and progress in achieving their strategic goals. Online links to further information are also available, including Cartoon Network Emmy Awards and ratings.

LEGO Acquires "Batman," Nickelodeon Licenses

Warner Bros. Consumer Products today announced that they have C21Media the LEGO Group the construction toy license for DC Comics’ Batman. The agreement includes the rights to develop and market construction toys based on the Batman brand, inspired by DC Comics’ comic books; Warner Bros. Animation’s television series, The Batman; Warner Bros. Pictures’ feature film, […]

Viacom Updates Timing of Split Completion

Viacom Inc. announced on Tuesday that it now expects its transaction to separate the company into two publicly traded entities to be completed by the end of 2005. The company previously indicated the transaction was likely to be completed in the first quarter of 2006. [Source: Viacom]

Autodesk to Acquire Alias

Autodesk Inc. will acquire Alias for $182 million in cash, AWN reports. The merger brings the chief 3D software applications — 3ds Max and Maya — under one roof. Autodesk anticipates that the transaction will close within the next four-to-six months.

Viacom/CBS Announce New Executive Positions

Jacques Tortoroli has been appointed Senior Vice President, Corporate Controller and Chief Accounting Officer of new Viacom, following the separation of the organization into two publicly traded companies. Tortoroli will report to Michael J. Dolan, Executive Vice President and Chief Financial Officer of new Viacom. Mr. Tortoroli will oversee accounting and financial reporting, financial planning […]

Toonz/First Serve Form Animation Joint Venture

Trivandrum-based Toonz Animation India and California-based First Serve Ent. will form a joint venture, First Serve Toonz (FST), which will produce and distribute animation programming for the international marketplace as well as operate a consumer products licensing business, AWN reports. Ed Borgerding, a 20-years veteran of The Walt Disney Company, has been named CEO of […]

Disney and Time-Warner Look Ahead for Wall Street

The New York Times covers the recent announcements that Disney is expecting disappointing results from its movie studio division, while Time Warner is expecting to meet its financial goals for 2005 (free registration required). The Times‘ coverage fails to note that Disney’s Chief Financial Officer Tom Staggs stated that Disney is still on-target to meet […]

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