Viacom Continues to Rebound With Strong 3Q; U.S. Affiliate Fee Growth Remains Weak Point
Viacom posted another strong quarter, as revenue for the fiscal third quarter was in line with Street estimates and EBITDA and earnings per share beat consensus projections. The firm’s restructuring plan appears to be hitting its stride, but we remain concerned about the weak affiliate revenue growth. We believe Viacom still faces challenges in gaining carriage at over-the-top pay-television operators, which continue to gain subscribers. We are maintaining our narrow moat rating and fair value e...Viacom provides entertainment through television, film, digital media, live events, merchandise and solutions. The company operates through two segments: Media Networks, which provides entertainment content, services and related branded products for consumers in targeted demographics attractive to advertisers, content distributors and retailers through its media brands including Nickelodeon, MTV, BET, Comedy Central and Paramount Network; and Filmed Entertainment, which develops, produces, finances, acquires and distributes films, television programming and other entertainment content through its Paramount Pictures, Paramount Players, Paramount Animation and Paramount Television divisions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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