Focus on Entertainment Stocks
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Spotlight on Viacom Inc.: “I’m heavily involved in the operation of the company; in fact, no transaction of any consequence happens without my participation,” said Chairman Sumner M. Redstone. “I’m working harder now than I’ve ever worked in my life,” he added. This hands-on management strategy, combined with heavy investment in different types of media around the world, has translated to the bottom line: revenue is up 9% compared to last year and profit has almost doubled.
Major Properties
* Cable networks: MTV, VH-1, Movie Channel, Nickelodeon, Showtime
* TV syndication/programming: “The Montel Williams Show,” “Roseanne”
* Broadcasting: Five TV stations, 14 radio stations
* Cable subscribers: 1.1 million
Financial Data
* Market capitalization: $6.9 billion
* Cash: $48.4 million
* Long-term debt: $2.4 billion
* 1992 revenue: $1.9 billion
* 1992 profit: $49 million
* Earnings per share: $0.55
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