Update 2: Viacom Posts Loss on Blockbuster Charge
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Viacom Inc., the media conglomerate that owns CBS and MTV, posted a third-quarter loss of $487.6 million Thursday as its earnings were hit by a $1.
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In an escalating battle for online subscribers, Blockbuster Inc. on Wednesday undercut its smaller rival Netflix Inc. by unveiling a lower subscription fee for DVD rentals.
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Blockbuster Inc., which has been losing money on online movie orders, is boosting prices of its DVD-by-mail service for new customers and some existing ones by up to 40 percent.
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Blockbuster, the video rental company, yesterday said it plans to eliminate late fees as the chain struggles to stem the decline in the film rental market.
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Viacom Inc. and The Walt Disney Co. agreed Thursday to pay a total of $1.5 million to settle government charges the companies violated advertising limits for children&#39;s television programming.
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The maker of digital video recorders reported a net loss of $17.7 million in the second quarter, which included an $11.2 million inventory write-off.
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Blockbuster continues to take baby steps away from Total Access.
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Netflix Inc will not cut its price for online DVD rentals to match lower fees set on Wednesday by rival Blockbuster Inc. (BBI.N: Quote, Profile, Research) in an escalating
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Media conglomerate Viacom Inc.  VIAb.N said Wednesday its exchange offer to split off its  Blockbuster Inc. BBI.N unit, which expired at midnight  Tuesday, was successful, based on preliminary results.
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Blockbuster Inc., the largest US video store chain, cut the price of its online rental service to $14.99 a month to try to fend off competition from Netflix Inc.
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SAN FRANCISCO -- Online DVD rental pioneer Netflix Inc. is lowering the price of its two most popular subscription plans by a $1 per month, relinquishing millions of dollars in revenue in an attempt to regain the upper hand in a cutthroat battle with Blockbuster Inc.
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Clicks versus bricks--the sequel. Netflix (nasdaq: NFLX - news - people ) on Monday struck a blow at movie-rental rival Blockbuster (nyse: BBI - news - people ). The Internet service led by Chairman, President
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Media conglomerate says it will make an offer for 77.7% of financial news site it still doesn&#39;t own. NEW YORK  - Media conglomerate Viacom Inc.
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VIVENDI Universal, the French media and telecommunications company, said its net loss grew to Â£1.26 billion in the second quarter.
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Viacom Inc. VIAb.N on  Thursday posted a third-quarter loss as a result of charges  from discontinued operations and a writedown of its assets, but  revenue rose on advertising sales growth at MTV and Nickelodeon  cable networks and the CBS television network.
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NEW YORK, Oct 28  - Media-entertainment group Viacom said Thursday it posted a net loss of 487.6 million dollars in the third quarter as a result of its spinoff of its struggling Blockbuster video unit.
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Plus:  TiVo swings to a loss...HP profit gains on cost cuts, cheaper components...Dell execs skewed numbers to meet earnings targets.