Viacom Inc. — the owner of MTV, Comedy Central and Nickelodeon — disappointed investors Thursday with its quarterly earnings and its outlook for the coming months. It’s struggling to improve its fortunes as cable TV channels have become less popular.
Wall Street was particularly concerned that Viacom gave worse-than-expected guidance for early 2018. The company said affiliate fees would be lower than initially thought. Viacom has had to reduce its rates while negotiating with pay-TV distributors.
The rates will stabilize as the year progresses and then improve in 2019, Viacom's top executives said.
Investors weren’t appeased. They pounded Viacom shares after the news,...