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Description:
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Viacom Inc. is comprised of MTV Networks (MTV, VH1, Nickelodeon, Nick at Nite, Comedy Central, CMT: Country Music Television, Spike TV, TV Land and many other networks around the world), BET, Paramount Pictures, Paramount Home Entertainment and Famous Music. Viacom Inc. has also entered into an agreement to acquire DreamWorks SKG, a motion picture and television production studio, and an exclusive, worldwide distribution agreement with DreamWorks Animation. The acquisition of Dreamworks SKG is expected to be completed in the first quarter of 2006 and the worldwide distribution agreement will become effective at the time the acquisition is completed. On January 01, 2006, Viacom, Inc. announced that it had completed the transaction to separate the Company into two publicly traded entities: CBS Corporation and New Viacom Inc. For the three months ended 31 March 2006, Viacom, Inc.'s revenues rose 12% to $2.37B. Net income from continuing operations fell 12% to $317.2M. Revenues reflect an increase in sales attributable to strategic acquisition of DreamWorks, higher sales from Cable Networks and increased sales from Entertainment division. Net income was offset by higher operating expenses due to increased investment in new channels and business.
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