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Viacom 2Q profits fall, but beats expectations

Viacom is reporting an 18 percent drop in second-quarter net income due to lower revenue, especially from its filmed entertainment division that includes Paramount Pictures.

Comedy Central to launch Twitter comedy festival

Putting a new test to the adage that brevity is the soul of wit, Comedy Central is partnering with Twitter for a comedy festival played out in 140 characters and 6-second videos.

Cablevision sues Viacom over channel bundling

Cable TV company Cablevision says that it is suing Viacom, arguing that the operator of pay-TV networks like Nickelodeon, MTV and Comedy Central is "illegally forcing" it to carry 14 channels that aren't watched very much.

Viacom 4Q earnings up 13 pct despite revenue drop

(AP)—Viacom says net income grew 13 percent in the most recent quarter even as revenue fell more than Wall Street expected with the lack of a strong theatrical release.

Amazon gets Epix video rights to challenge Netflix (Update)

(AP)—Amazon.com's Internet video library is gaining more box-office appeal under a licensing deal with Epix that threatens to undercut Netflix leadership in a growing market that's transforming the entertainment industry.

Viacom, Time Warner Cable settle dispute over app

(AP) -- Viacom Inc., the parent of pay TV networks MTV and Comedy Central, has settled a dispute with Time Warner Cable Inc. over whether its subscribers can watch shows like "Jersey Shore" on mobile devices while at home.

YouTube, Google Play add 600 MGM movies for rent

(AP) -- Google is adding 600 movies from Metro-Goldwyn-Mayer to the titles it has available for rent on YouTube and also Google Play, its digital content store for Android-powered mobile devices.

'Shrek' studio joins Wal-Mart disc-to-digital plan

(AP) -- DreamWorks Animation SKG Inc., the maker of "Shrek," "Madagascar" and "Kung Fu Panda," is teaming up with Wal-Mart Stores Inc. to help people convert their old DVDs into an online movie library.

Court revives Viacom copyright suit against YouTube

A US appeals court on Thursday revived a billion-dollar lawsuit filed by entertainment giant Viacom accusing Google-owned website YouTube of knowingly profiting from pirated video clips.

Paramount to add 500 films to YouTube rentals

(AP) -- YouTube and Paramount Pictures have reached a deal to make nearly 500 films available to rent online, even while their parent companies continue to feud over a $1 billion lawsuit.

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