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Viacom Extends Contracts of Jon Stewart, Stephen Colbert

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July 25 (Bloomberg) -- Viacom Inc.’s Comedy Central said it has signed contract extensions with Jon Stewart and Stephen Colbert, hosts of the network’s late-night shows.

Stewart’s extension commits him to “The Daily Show with Jon Stewart” through mid-2015 as executive producer, writer and host, New York-based Comedy Central said today in an e-mailed statement. Colbert’s extension keeps him at “The Colbert Report” until the end of 2014 as executive producer, writer and host.

Among late-night shows, Stewart’s program delivers the biggest audience in the 18-to-49-year-old demographic that advertisers target, the network said. The two shows are also the only late-night series to post increases in viewing with that age group, Comedy Central said, citing Nielsen data.

Viacom, controlled by Chairman Sumner Redstone, gained 0.4 percent to $45.46 at 12:54 p.m. in New York trading. The stock had declined 0.3 percent this year through yesterday.

To contact the reporter on this story: Andy Fixmer in Los Angeles at afixmer@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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