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Lower costs at Paramount Pictures and higher subscriber fees at cable networks like Nickelodeon, Comedy Central, and VH1 helped Viacom report a 16 percent increase in quarterly profit Thursday.
But Paramount continued to lose money — $74 million, an improvement from a loss of $139 million a year ago — and the 3 percent growth in advertising for domestic television was on the light side. Viacom
“Probably isn’t enough to dissuade the fears, but isn’t bad enough to suggest things are even worse,” Todd Juenger, an analyst at Bernstein Research, wrote in a research note of the slight uptick in advertising. Sumner Redstone’s Dedham-based company, National Amusements Inc., owns a controlling stake in Viacom.