S&S Revenues Up, As Viacom Takes Huge Writedown and Begins Asset Sales Viacom’s quarterly report is headlined by a whopping $18 billion writedown related to the declining value of their radio and billboard advertising businesses. In a conference call with investors, co-president Tom Freston indicates that the asset sales that have been “hinted” at over the past few months are starting: “Viacom is in the early stages of an auction of our Famous Players [a movie theater business]” Freston said. “We don’t see that as a core business going forward and we expect to complete the auction process in the […]
