The Business Times
business-time-50

Viacom's profit down 29%, providing lens into a business in turmoil

Firm has been engulfed in legal turmoil over mental capacity of its controlling shareholder

Published Fri, Aug 5, 2016 · 09:50 PM

    New York

    VIACOM reported a 29 per cent plunge in profit in the latest fiscal quarter, putting its management in the hot seat as it continues to wage a brutal fight for control of the entertainment company.

    The lacklustre earnings, reported on Thursday, put a harsh spotlight on the actual business results of a company that has been engulfed in legal turmoil over the mental capacity of its controlling shareholder, Sumner M Redstone.

    TRENDING NOW

    PSD’s review followed claims in a working paper that civil servants had disproportionately bought properties near planned but unannounced MRT stations.

    8 public officers referred to police over property buys near unannounced MRT stations: Chan Chun Sing

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    Among retrenched PMETs who have found work again, about six in 10 earn more than before their retrenchment at both the 12 and 24-month marks.

    Retrenched PMETs who return on lower pay see median 25% wage cut

    Hao Mart was evicted by department store operator OG on alleged rental arrears and breaches of the lease agreement, less than two years into the lease.

    Hao Mart owner resisting OG’s mortgage foreclosure on his Tanglin GCB

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More