Viacom Inc (VIA:NYSE)

Viacom Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported revenues of $3,317 million, earnings from continuing operations before provision for income taxes of $579 million, net earnings from continuing operations of $443 million or $0.73 per diluted share, net earnings attributable to company of $463 million or $0.76 per diluted share against revenues of $3,408 million, earnings from continuing operations before provision for income taxes of $511 million, net earnings from continuing operations of $385 million or $0.62 per diluted share, net earnings attributable to company of $401 million or $0.65 per diluted share a year ago. Adjusted operating income was $784 million as compared to $689 million for the same period a year ago. Adjusted net earnings from continuing operations attributable to company was $421 million or $0.69 per diluted share as compared to $339 million or $0.55 per diluted share for the same period a year ago. For the nine months, the company reported revenues of $9,521 million, earnings from continuing operations before provision for income taxes of $1,299 million, net earnings from continuing operations of $897 million or $1.48 per diluted share, net earnings attributable to company of $917 million or $1.51 per diluted share against revenues of $10,382 million, earnings from continuing operations before provision for income taxes of $1,599 million, net earnings from continuing operations of $1,061 million or $1.68 per diluted share, net earnings attributable to company of $1,078 million or $1.71 per diluted share a year ago. Adjusted operating income was $1,845 million as compared to $896 million for the same period a year ago. Adjusted net earnings from continuing operations attributable to company was $2,048 or million $1.47 per diluted share as compared to $1,027 or $1.63 per diluted share million for the same period a year ago.

Playmates Toys Inc. announced its new global master toy agreement for the Teenage Mutant Ninja Turtles with Nickelodeon & Viacom Consumer Products (NVCP). The long-term partnership allows Playmates Toys to continue its phenomenally successful, 20-year tradition with the Turtles brand, which has generated $2 billion (at retail). This new alliance also lets Playmates Toys execute on its strategy to maximize global toy rights in partnership with renowned brands that leverage entertainment across multiple-media platforms worldwide.

On October 14, 2009 National Amusements Inc stated said that it would divest stakes in CBS Corporation, Viacom Inc and other non-core assets to repay its debts. The company said in a press release that the stakes and assets divestment will enable it to keep the majority of CBS and Viacom and retain full ownership of its theater assets in the UK, Brazil and the US. The company expects to raise $600 million by divesting stake in Viacom and $345 million from stake sale in CBS. National Amusements said that it would retain 75% of the voting capital of each company and would not further cut its stake in CBS and Viacom.