Viacom's earnings plunge after battle for control

New York

AFTER months of tumult in Viacom's leadership, it came as little surprise that the company had a bad year. The entertainment company reported on Wednesday a 25 per cent plunge in profit and a 6 per cent drop in revenue for its fiscal year, which ended Sept 30.

The results put stark numbers on what was a difficult period for Viacom, which included a fierce fight for control that led to the ousting of the company's chief executive. Now, the company's board is considering a proposal from the Redstone family to reunite with CBS.