Lets Go to the Movies
Viacom has reported a 24 percent increase in revenue bringing in $2.85 billion. MTV has bought Atom Films for $200 million. MTV as many know is owned by Viacom Inc. another media giant who often bumps heads with News Corp. News Corp on the other hand just made a $900 million deal with Google to become the search on MySpace. These big media giants are moving taking their share of online ads which is expected to hit $17 billion for this year. While we are on the entertainment subject Disney has reported a 39% increase for its 3rd quarter profit. I don’t think the blockbuster “Pirates of the Caribbean: Dead Man’s Chest” is listed on the 3rd quarter profit, but “Cars” is among the reasons for the job. Also Sony has reached the one billion dollar mark in movies and Disney is just below the billion dollar mark.
Delta is reporting a $2.2 billion dollar loss for the 2nd quarter. Its a wonder what Delta is doing wrong since several other airlines reported profits.
