REVIEW: Viacom reports net profits for first quarter

Viacom, the owner of MTV, Paramount Pictures and CBS, has reported net profits of £283 million for the first quarter of 2003, compared with a loss of £710 million for the same period last year. Turnover was up 7 per cent to £3.87 billion. It has also bought AOL Time Warner's 50 per cent stake in the Comedy Central channel for £790 million. - General release.

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