Viacom expects affiliate sales to drop in 2018; shares sink [Reuters]
Charter Communications, Inc. - Class A (CHTR)
Last charter communications, inc. - class a earnings: 5/1 07:00 am
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Source: Reuters
Viacom expects affiliate sales to drop in 2018; shares sink | Reuters 3 Min Read (Reuters) - Viacom Inc ( VIAB.O ), owner of MTV, Comedy Central and Paramount, said Thursday it expects high single-digit declines in revenue from U.S. cable TV operators and online distributors in the first half of 2018, sending its shares down 8 percent. The company said pay-TV subscribers continued to decline. The New York-based media company beat analyst estimates on revenue as U.S. advertising sales improved to their strongest since 2014. However, Viacom expects mid-single-digit declines in U.S. affiliate sales for 2018, with positive sales returning in 2019. “In the past year, deals representing nearly 50 percent of our subscriber base have been renewed or extended, and we now have no significant renewals until well into 2019,” Bob Bakish, chief executive, said on a call with analysts. “To be clear, this was a significant accomplishment at a critical time.” Shares of the company were down 7.7 perc
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CHTR
Earnings
- 2/2/24 - Miss
CHTR
Sec Filings
- 3/28/24 - Form S-8
- 3/28/24 - Form PX14A6G
- 3/14/24 - Form ARS
- CHTR's page on the SEC website