Viacom's MTV Networks unit is almost complete with its upfront, according to Viacom President and CEO Philippe Dauman, speaking on a conference call with analysts Tuesday to report second-quarter earnings.
"I am very happy to report we are just about done with our advertising upfront," Dauman said. "Given current conditions, we are very pleased with the results from both a volume and pricing standpoint. I want to thank our advertisers and the advertising agencies for their continuing support of our iconic brands."
He declined to give details on the volume sold or the CPM pricing levels obtained.
On the call, Viacom also noted a deal that it had struck a deal with Verizon FiOS for carriage of the new premium channel Epix, a joint venture between Viacom-owned Paramount, Lionsgate and MGM. He said more detail would be forthcoming later today.
Viacom net earnings fell 32%, to $277 million, operating income was down 26%, to $586 million, while total revenue fell 14%, to $3.3 billion.
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