Tuesday, January 29, 2008
Posted
5:33 PM
by Gene
Viacom Chief Says Company Is `Recession-Resistant'
The possibility of a recession led Goldman Sachs Group Inc. to reduce profit estimates for media companies including Viacom and Disney. Goldman said Jan. 9 that Viacom's earnings before interest, taxes, depreciation and amortization may gain 6 percent this year, down from a previous prediction of 8 percent.
Overall, traditional advertising sales in the U.S. will decline 3 percent to 5 percent this year, Goldman estimates. [Eighth and ninth grafs] NUF SAID. (Via IWantMedia)
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