Viacom Inc. posted pro forma EBITDA of more than $1 billion for the third quarter ended Sept. 30.
Despite unspecified losses due to wall-to-wall news coverage of the Sept. 11 terrorist attacks on CBS, Viacom reported earnings before interest, taxes , depreciation and amortization of $1.33 billion for the quarter. In a prepared statement, Mel Karmazin, Viacom president and COO, projected a casah flow near $3 billion for the year.
For the third quarter, Viacom reported $5.71 billion in revenues and $977 million in EBITDA, compared to $5.81 billion in revenues and $1.44 billion in EBITDA for the third quarter of 2000. - Richard Tedesco