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Philippe P. Dauman
Paramount's thin film slate puts drag on Viacom profit
Paramount's thin film slate puts drag on Viacom profit

Viacom is hoping some muscular turtles can stomp out the doldrums at its Paramount Pictures movie studio. Paramount this week releases the "Teenage Mutant Ninja Turtles" movie, which comes on the heels of the studio's summer blockbuster, "Transformers: Age of Extinction." However, the two films did not arrive in theaters in time to boost parent company Viacom's lackluster fiscal-third-quarter earnings. The media company's profit dropped 5.1% to $611 million during the April-through-June quarter. Cost-cutting helped: Earnings of $1.40 a share compared with $1.31 a share in the previous year period. Viacom revenue fell 7% to $3.42 billion for the...

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