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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
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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.

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